Future Grp to revive plans for Future Venture IPO

The group may raise Rs 600-800 crore from the initial public offer (IPO) for which it is likely to file draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) soon. This Rs 600-800 crore will be used for investment in consumer goods companies.

Confirming the same, Chief Executive Officer Kishore Biyani said though the company was reviving its plans for Future Venture IPO, he was unable to comment on the issue price and the amount to be raised. “The Pantaloon board will take a decision on the size and timing of the issue,” he stated.

Further, it is also being learnt that the board is set to meet on August 12 to consider restructuring. "The company is looking to segregate its shipping, logistics and oil field business," sources inform CNBC-TV18.