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| Future Ventures files DRHP for Rs 750 cr IPO |
| Press Trust of India / New Delhi Aug 17, 2010, 22:14 IST |
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 In its second attempt to tap the capital markets, Kishore Biyani-promoted Future Ventures India has filed a draft prospectus with the Securities and Exchange Board of India (Sebi) for a Rs 750 crore initial share sale offer.
As per information available with investment bankers, Future Ventures filed a Draft Red Herring Prospectus (DRHP) with the Sebi on August 13.
According to the details available with the prospectus, media major Bennett Coleman and Company (BCCL) is among the top 10 shareholders of the company.
BCCL, the publisher of English dailies Times of India and Economic Times, holds a 12.10 per cent stake in the company.
Other top shareholders of the company include Pantaloon Retail (India), which holds an 18.15 per cent stake, and Future Capital Investment, with a 12.32 per cent holding.
This is the second time that Future Ventures is planning to tap the primary market. Earlier, in 2008, the company had filed a prospectus, but did not come out with an offering.
The company plans to raise funds to create, build, invest in or acquire and operate business ventures and for general corporate purposes, as per the DRHP.
JM Financial, Enam Securities and Kotak Mahindra Capital are the book running lead managers to the issue.
Shares offered through the IPO are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange.
The company is a part of the Future Group. The Future Group is promoted by Kishore Biyani and focuses on consumption-led businesses.
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