You are here: Home » Companies » News
Business Standard

Future Ventures to again file DRHP for IPO

BS Reporter  |  Mumbai 

Kishore Biyani

Almost two-and-half years after filing a draft herring red prospectus (DRHP) for a public issue, Future Ventures, the venture capital arm of Kishore Biyani’s Future Group, has revived its initial public offer (IPO) plans.

However, the group is expected to scale down its IPO target this time, said a source. It would be the second venture capital company to go for an IPO after IL&FS Investment Managers listed on Indian exchanges.

“We are filing the DRHP on Wednesday,’’ said Kishore Biyani, chief executive and founder of Future Group, without divulging the timing and size of the IPO.

In February 2008, Future Ventures filed for an IPO of 3,736.15 million shares to raise as much Rs 3,750 crore from the capital markets. However, weak market conditions forced it to put the IPO plans on the backburner.

According to a person, the group may cut the original IPO target to a third, given current market conditions.

“When they filed the IPO for the first time, we were in boom time. Now we are in the recovery stage. Targeting such amounts is unrealistic now,’’ the person said

Future Capital Holdings is expected to hold a board meeting tomorrow to decide the IPO target and other details of the IPO, the person said.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, August 10 2010. 01:02 IST
RECOMMENDED FOR YOU
.