Future Ventures IPO likely to open end of April: Report

Future Ventures, a unit of the Future Group which runs the country's top listed retailer Pantaloon Retail, is likely to hit the capital market with its initial public offering at the end of April, a newspaper report said.

The company, which invests in businesses which are strategically important to the group's retail business, plans to raise Rs 750 crore via the share sale and has received the regulator's nod, The Times of India said.

The company plans to use a large part of the funds for acquiring new businesses while a small part of the proceeds will be used to grow the existing businesses, KK Rathi, chief executive, Future Ventures, said.

This is the second attempt by the company to raise money via an IPO. It had earlier filed for an IPO just when the financial crisis began, the report said.

Future Ventures currently has 13 companies in its portfolio which own brands in fashion, FMCG, food processing and home products.