Future Ventures India of Kishore Biyani's Future Group is ready to hit the market soon with an initial public offering (IPO) of around Rs 3,750 crore.
Though the issue is 100% book-built, it would carry a small price band to make it affordable to retail investors.
"The price band will be very small, which will be similar to an at-par issue. The idea is to make it affordable to retail investors as the group did with retail ventures like Big Bazaar that attracted masses with low prices,'' sources said.
The last at-par issue was from Saamya Biotech India that raised nearly Rs 15 crore from the market.
The announcement comes barely three weeks after the listing of Future Capital Holdings (FCH), the financial arm of the Future Group. FCH raised nearly Rs 490 crore from the market.
Future Ventures has already filed a draft red herring prospectus (DRHP) with Securities and Exchange Board of India (Sebi) for the proposed issue.
Carved off as a separate company with an initial capital of Rs 250 crore, Future Ventures has already got Rs 325 crore funding from one of the promoters Pantaloon Retail. Future Ventures is expected to invest in new ventures and the real estate projects of the Future Group.
No comments:
Post a Comment