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Future Group's venture capital arm, Future Ventures, is set to enter the capital market by the first week of May to raise around Rs 750 crore through an IPO, a top company official said today.
The company would file application with the Registrar of Companies in two days.
“We are looking at raising Rs 750 crore from the capital market. We have already got SEBI approval for the IPO and expect to hit the market in the next 3-4 weeks. The exact dates will be decided after we go to the RoC,” the Future Venture CEO, Mr K.K. Rathi, told PTI here.
The proceeds of the IPO would be used to fuel acquisition plans in the FMCG, food and fashion segments, Mr Rathi said, adding the focus in the first year would be primarily on the FMCG space.
“We will be looking at acquiring, creating new and growing our existing private brands. We would focus mainly in the FMCG, food and fashion segments. Our idea is to go beyond modern retail to sell our products. We are talking to a few players in all the three segments.”
The company, which has 30-40 private brands across these three segments, plans to add brands through acquisitions or create brands.
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