Future Capital Holdings is confident of achieving its asset base target of Rs 4,700 crore for FY13. V Vaidyanathan, chairman and managing director in an interview to CNBC-TV18 said: "Last year we closed our company with an asset base of about Rs 2,800 crore. We expect to be pretty much in line with the guideline we have set for ourselves."
The company ventured into gold loan business last year and expects to close this financial year with a gold loan book of about Rs 250 crore. Below is the edited transcript of the interview. Also watch the accompanying video Q: Possibility of CX Partners looking to buy about a certain stake in Future Capital Holdings. Take us through the possibility of this and when could it even come through if there is some amount of due diligence going on? A: I must say that particular article was ahead of time or a bit speculative. I cannot exactly deny that discussions are going on with few parties with regard to possible stake sale. But, we will have to leave it at that because there is nothing conclusive as yet. Q: Last we spoke with the Future Group management they did indicate that they needed to raise some money and monetizing it via Future Capital was an option. Is there a timeline in place in terms of how soon you guys want to cut a deal on this kind of a stake sale and how much it is that you are looking to sell? A: There are discussions in progress. It is difficulty to put a timeline to these because as you might understand there are number of steps to take care of. There is alignment of interest of the organizations, there are issues of valuation, due diligence and so on. Broadly, the company is in good shape, I am not surprised with the level of interest about the whole transaction. Beyond that I think it will be difficult to actually set a specific timeline about this whole matter. Q: Would it be the entire promoter holding that would be shelved off or will it be just a part amount of stake? A: All options are open. A lot will depend upon various options that come about in terms of the extent thatDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
