Mumbai February 17, 2011
Kishore Biyani’s Future Ventures is looking at tapping the primary market with a INR 7.5 billlion initial public offer (IPO) next month, according to two persons with direct knowledge of the matter. This could end the lull, since December last year, in big private sector IPOs.
Future Ventures, the venture capital arm of Future Group, had first applied with the Securities and Exchange Board of India (Sebi) for an IPO in 2008, but did not proceed with it due to adverse market conditions. At that time, the company aimed to raise INR 3.73 billion from the IPO. It again filed the draft prospectus for the issue in August last year and has approval from the market regulator.
Enam, JM Financial and Kotak Mahindra Capital are the book running lead managers for the IPO.
Kishore Biyani’s Future Ventures is looking at tapping the primary market with a INR 7.5 billlion initial public offer (IPO) next month, according to two persons with direct knowledge of the matter. This could end the lull, since December last year, in big private sector IPOs.
Future Ventures, the venture capital arm of Future Group, had first applied with the Securities and Exchange Board of India (Sebi) for an IPO in 2008, but did not proceed with it due to adverse market conditions. At that time, the company aimed to raise INR 3.73 billion from the IPO. It again filed the draft prospectus for the issue in August last year and has approval from the market regulator.
Enam, JM Financial and Kotak Mahindra Capital are the book running lead managers for the IPO.
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