20905 Investors following Pantaloon Ret. Share this News with them.
0
Like this story, share it with millions of investors on M3
Future Group unit to raise $160 mn in IPO
An unit of Future Group, which runs the country's top listed retailer Pantaloon Retail, is looking to raise as much as Rs 7.5 billion (USD 160 million) through an IPO
An unit of Future Group, which runs the country's top listed retailer Pantaloon Retail , is looking to raise as much as Rs 7.5 billion (USD 160 million) through an IPO, according to a draft prospectus.
Future Ventures, the investment arm of Future Group, plans to use the proceeds of the offering to build, invest in or acquire businesses in India's growing "consumption-led" sectors, said the prospectus posted on the issue managers' websites.
Enam Securities, JM Financial and Kotak Mahindra Capital are book running lead managers for the offering.
The timeline for the IPO has not yet been set.
Future group, which also owns financial services firm Future Capital Holdings, had intended to float Future Ventures in 2008, but the process was delayed in the wake of the financial crisis, an economic slowdown and a stock market collapse.
Indian firms have raised a total of about USD 14 billion through share sales so far this year from 74 issues, compared with USD 16 billion raised in 2009 from 89 offerings, according to Thomson Reuters Data.
A strong market debut for Indian lender SKS Microfinance, which counts US billionaire George Soros as one of its investors, on Monday boosted prospects of more such offers in the world's largest market for small loans.
