Many private equity funds and retailers, who have long-term vision, will come to India, says Biyani.
Kishore Biyani, the founder of Future Group, is treading cautiously with the initial public offer of his venture capital arm, Future Ventures, this time.
'Anything you buy from any Future outlet should have financing options by us'
To operate large wholesale markets and imports.
Money is not a problem for us but we have to raise it judiciously in view of our aggressive plans.
Kishore Biyani, who owns the Future Group and its associated retail chains, is seeking support from rival retailers to challenge the might of Hindustan Unilever, Cadbury, Britannia and other confectionary, food and fast moving consumer goods companies (FMCG) to bargain for higher margins.
At a time when most retail firms have either gone slow in opening new stores or closed down some to beat the ongoing slump, the Future Group has opened nearly 150 stores across all its formats over the past three months. This month alone, Biyani is opening 15 stores, mainly selling electronic and lifestyle goods.
Sources familiar with the development said the Japanese giant had made it a pre-condition to invest in Future Group's food sourcing and back-end infrastructure.
Biyani said he wanted to make amends for the steep pricing of the Future Capital IPO, which resulted in heavy losses for investors.
The latest trigger has been Future group's buyout talk with the retail unit of Andhra Pradesh Chief Minister Chandrababu Naidu's family-owned Heritage Foods
Kolkata, which has remained a priority centre for Future Group is also all set to get three more Pantaloon stores by the festive season in 2011. The group has finalised locations for Madhyamgram, Lake Mall and Jessore Road.
Other fashion formats such as 'Central' mall chain, 'Brand Factory' and 'Fashion at Big Bazaar' remain under Future Group and eye expansion
Venturing into the outdoor media business, Kishore Biyani's Future group, with retail brands such as Pantaloon, Big Bazaar
Kishore Biyani-promoted Future Capital Holdings has received the regulatory go-ahead from Sebi for its initial public offer, estimated to raise between Rs 400-500 crore (Rs 4-5 billion).
The stores will sell products under the Fashion at Big Bazaar brand.
With inauguration of Tumkur food park, he has ambitious plans in the segment.
The development of the constitution of the tribunal comes at a time when the Delhi high court in December 2020 refused to restrain Amazon from interfering in Future Retail's deal with Reliance Retail by writing to statutory authorities.
Kishore Biyani's Indivision Capital, the private equity arm of Future Capital, announced that it would buy 4.9 per cent in Subhash Chandra's direct-to-home (DTH) business Dish TV for Rs 250 crore (Rs 2.5 billion).
He's betting big on small stores to help him reach 10 million households by FY21, report Abhineet Kumar and Raghavendra Kamath.
Future's home retailing interests, including furniture and furnishings, are housed under Praxis Home Retail, which was created in FY18 when the group demerged the business from Future Retail.
Banking sources said the debt recast is actually 'Plan B' to help the nation's largest retailer stay afloat.
Future Retail, once the crown jewel of Kishore Biyani-led Future Group, is now heading for liquidation as its lenders could not get any reasonable buyer of the debt-ridden firm. As the Committee of Creditors (CoC) rejected the sole resolution plan submitted by Space Mantra after four extensions in the deadline to complete the corporate insolvency resolution process (CIRP), the RP of the company has now approached NCLT to initiate liquidation of Future Retail (FRL). "The resolution plan submitted by Space Mantra Private has not been approved by CoC of FRL, kindly note that, the Resolution Professional (RP) has filed an application, before the National Company Law Tribunal, Mumbai Bench, for initiation of liquidation of FRL," said a regulatory filing from FRL.
Listed companies of the Kishore Biyani-led Future group on Saturday informed exchanges about meetings of their respective shareholders and creditors being convened on April 20 and 21 to get their approval for the Rs 24,713-crore deal with Reliance Retail. Listed entities, including Future Enterprises Ltd, Future Retail Ltd, Future Consumer Ltd and Future Supply Chain, informed exchanges about dates and other procedures for the virtual meetings of shareholders and creditors. The meetings are held virtually through video conferencing and other audio-visual means, the addendum notice added.
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Dismisses speculation that he would launch a major e-commerce initiative soon.
According to the plan made by the lenders and RIL, all Future group listed companies will be merged into Future Enterprises. RIL will then invest Rs 8,500 crore in the merged entity which will include the retail business.
Manish Tiwary plans to take up a new role at another firm.
these are all funded by venture capitalists and "after 2-3 rounds of funding, 80 per cent shares are gone" and then are sold to some corporate houses
There is immense pressure on Biyani to go ahead with the RIL offer after FRL defaulted on its interest payments of Rs 100 crore on July 22.
Future, which recently tied up with Amazon in India to sell its fashion and food products exclusively on the American giant's marketplace platform, is looking at a gross merchandise value of about Rs 6,000 crore (Rs 60 billion) in the next three years from the venture.
"We are developing the cash and carry model with an overseas partner," Future Group's CEO Kishore Biyani told PTI here, without giving details.
Kishore Biyani talks about entrepreneurship, believing in yourself, and how experiencing the journey is more important than achieving any objective
Public sector lender Bank of India has moved to the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against Future Retail Ltd and a moratorium over the assets of the Kishore Biyani-led debt-ridden firm. Besides, Bank of India (BOI), the lead banker of a consortium of banks that lent money to Future Retail Ltd (FRL), also suggested the insolvency tribunal appoint Vijay Kumar V Iyer as the interim professional of the company. Meanwhile FRL, in a regulatory filing, said it has been served and received a copy of the petition and is in the "process of taking legal advice".
Discount chain to expand to the east and west, continue with third-party brands.
Future group has gone premium for the first time with Holii. A bag and accessories brand, it was soft-launched in 2009. The prices begin at Rs 700, with most of the bags costing upwards of Rs 1,800.
Kishore Biyani-led Pantaloon Retail India (PRIL) will invest close to Rs 250 crore within the next year-and-half for setting up 10 Central malls in the country.
Enthused by its success in retail, the Kishore Biyani-led $2 billion Future Group will soon foray into the logistics business, investing more than Rs 400 crore (Rs 4 billion) by 2010.
The group had launched a 5-day promotional blitz called Mahabachat across its retail chains from August 12 till August 17. The promotion and special offers were offered across the Group's retail formats -- Big Bazaar, Pantaloons, Food Bazaar, Central, EZone, Home Town, Brand Factory, Furniture Bazaar, KBs Fairprice, Mobile Bazaar and Aadhar.
Future Retail Ltd (FRL) on Wednesday said it has filed an appeal in the Delhi high court against the status quo order on its Rs 24,713-crore deal with Reliance. On Tuesday, a Delhi High Court bench of Justice J R Midha had directed FRL to maintain status quo in relation to its Rs 24,713-crore deal with Reliance Retail that has been objected to by US-based e-commerce giant, Amazon. Following the Tuesday directive, FRL had said it would explore legal recourse.
Clearing the air on the issue of succession and the role of professionals in the group, the younger Biyani (Rakesh) said, "I find it very awkward to think so early about succession when my elder brother, Kishore, is still young, not even 50. I wonder why nobody asks who is going to succeed Mukesh Ambani, who owns the biggest business empire in the country."
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