Future Ventures Files DRHP To Raise Rs 750 Cr
Future Ventures India has filed DRHP with SEBI to raise Rs.750 Cr through IPO.
The funds will be used to create, build, acquire, invest in and operate business ventures in India focusing on fashion, FMCG, food processing, home products, rural distribution and vocational education. Enam Securities, JM Financial and Kotak Mahindra are the book running lead managers to the issue.
Transaction Reference: SEBI
Future Ventures India Ltd, part of the Futures Group has, at present, 13 business ventures and half of them are its subsidiaries. In the fashion category, its portfolio includes women’s apparel business under Biba Apparels Pvt Ltd, Holii Accessories Pvt Ltd, a JV with Hidesign India Pvt Ltd.
It also has exposure in Indus-League Clothing Ltd, a designer, manufacturer and retailer of ready-made garments under various brands, such as Indigo Nation, John Miller, Scullers and Urban Yoga besides Celio Future Fashions Limited, a JV with a global brand of men’s apparel and accessories based in France, Lee Cooper (India) Private Limited, a manufacturer and retailer of Lee Cooper-branded products and Turtle Limited, manufacturer, distributor, exporter and retailer of men’s wear products.
In 2008, it had filed DRHP to raise Rs.3,700 Cr via IPO, but didn't come out with IPO due to stock market crash.
It is backed by ad-for-equity investor Bennett Coleman & Co Ltd, that holds 12% stake in Future Ventures with an estimated investment of around Rs.100 Cr.
It reported a total income of Rs.177.9 Cr for 2009-10 with a net profit of Rs.21.27 Cr.
This year in June, Milestone Capital which is engaged in investment advisory services, has also filed DRHP to raised fund by diluting 30% stake.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 28/04/11 | Future Ventures - IPO | IPO / Offerings | - | |
| 16/12/10 | Future Venture - Citi, DE Shaw (Pre-IPO Deal) | Private Equity | Citi Venture Capital International | - |
| 28/03/08 | Future Ventures - Bennett Coleman & Company | Private Equity | Brand Capital (Formerly Times Private Treaties) | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 07/02/12 | M&A | Piramal Healthcare Limited | Looking For | - | Planned |
| 07/02/12 | Private Equity | Life Insurance Corporation of India | Dena Bank | 25.49 | Announced |
| 02/02/12 | Private Equity | AU Financiers India Private Limited | - | Planned | |
| 01/02/12 | M&A | Kotak Mahindra Bank Limited | Credit Card Portfolio | - | Completed |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Future Ventures India Limited | Kishore Biyani Future Capital Investment Private Limited Future Corporate Resources Limited Future knowledge Services Limited Pantaloon Retail India Limited PIL Industries Limited (Formerly Pantaloon Industries Ltd) |
Knowledge House, Shyam Nagar, Off Jogeshwari Vikhroli Link Road,Jogeshwari(East) Mumbai - 400060 Maharashtra |
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