Kishore Biyani-owned Home Solutions Retail (India) has raised about Rs 150 crore from selling shares to stakeholders, including ICICI Ventures Funds Management and Kotak SEAF India Fund to expand its business. “The fund raising was completed a few days ago,” Kishore Biyani, chief executive, Future Group, said.
The money will be used to expand home building and improvement merchandise, furniture and consumer durables segments.
The company plans to set up more stores in the home retailing segment under its existing formats —Home Town, Electronic Bazaar, Furniture Bazaar, Collection I and eZone.
Home Solutions Retail, a subsidiary of Pantaloon Retail, was started in 2006. Pantaloon owns more than 76.38 per cent stake in the subsidiary.
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