Future Ventures to hit markets soon: Biyani

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.

"We will be filing the DRHP (draft red herring prospectus) on Wednesday," Future Group's founder, Kishore Biyani, told reporters here on Monday.

He, however, refused to share details regarding the size or the timing of the issue, saying the Board of Pantaloon Retail would take a decision on these.

Future Ventures invests in consumption-led sectors and is a subsidiary of group company Pantaloon Retail. It has reportedly picked-up stakes in three companies including the Indian arm of Dollar Stores International.

The Future group had in February 2008 announced a Rs 3,750-crore (Rs 37.5 billion) IPO for the company which was called-off due to the global slowdown and weak market conditions.

This would be the third company from the Future Group after Pantaloon Retail and Future Capital Holdings to hit the markets. Besides, it would be second venture capital company after IL&FS Investment Managers to be listed. He also denied speculation of listing retailing chain Big Bazaar.