MUMBAI -- India's Future Group is planning to launch the initial public offering of unit Future Ventures India Ltd. by the end of March 2010, group chairman Kishore Biyani said Wednesday.
The group plans to raise about 10 billion rupees ($206.6 million) via the share sale of the venture capital arm, he told reporters on the sidelines of an industry event.
Future Group also operates India's largest listed retailer, Pantaloon Retail India Ltd. and financial services company Future Capital Holding Ltd.
Mr. Biyani said Future Ventures will file the draft IPO prospectus with the regulator "very soon," but didn't elaborate.
Future Ventures had received regulatory approval for the IPO in September 2008, but didn't launch the offering after stock markets slid in the wake of the global economic downturn.
Separately, Mr. Biyani said the group is planning to raise 10 billion rupees in the next eight weeks by selling non-core retail assets, but didn't provide further details.
"We (the group) are looking to achieve a revenue of 250 billion rupees by (fiscal) 2014," he said. Mr.Biyani didn't provide the group's revenue for the last fiscal, ended March 31.
Earlier in June, Mr. Biyani had said Future Group was planning to raise between 30 billion rupees and 40 billion rupees over the next 18 to 24 months.
