Though the exact amount of stake dilution is not known, Pantaloon Retail's Managing Director Kishore Biyani said the company would divest more than 20 per cent shares. Future Ventures will house the company's JVs and new ventures.
Kishore Biyani-promoted Future group's venture capital arm, Future Ventures, has revived its plans to hit the capital market and will be initiating listing formalities by filing a prospectus with market regulator Sebi on Wednesday.
The issue will carry a small price band to make it affordable to the retail investor. The company will issue 3,736.15 million shares.
The Tamil Nadu-based Jeevan Nedunchezhiyan, who recently made his Davis Cup debut and is expected to lead India's doubles challenge in coming years, is spending time hitting at private courts and handling the marketing of their family resort in Pondicherry.
After making handsome profits on Biba and AND, the homegrown retailer plans a string of similar investments.
Hailing Indian Space Research Organisation for its track record in launches, President Pranab Mukerjee on Monday said the country was looking forward to the success of homegrown GSLV mission.
The government has cleared 19 foreign direct investment projects worth Rs 4,340 crore, including that of Tata Steel and Future Ventures.
Customers want formats which have wide assortment, international products, and so on. Basically, it is an assortment play.
Biyani said he wanted to make amends for the steep pricing of the Future Capital IPO, which resulted in heavy losses for investors.
Battling back spasms and forgettable batting form, he led fellow warriors to do a miracle in the middle.
Kishore Biyani, the founder of Future Group, is treading cautiously with the initial public offer of his venture capital arm, Future Ventures, this time.
The venture, on the lines of Kishore Biyani's Future Ventures India, will focus its investments in the information technology sector, said a source familiar with the development.
Sean Mehra, born in Amritsar, jointly researched a space travel project with Jeffrey Reitman.
Khosla said 85 per cent of Indian e-commerce firms were over-valued.
A startup founder shares important lessons learned from shutting down his company.
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