Biyani plans second IPO of Rs2,000 cr

Biyani plans second IPO of Rs2,000 cr

The Future Group is gearing for a mega initial public offering of atleast Rs2,000 crore by the end of this year to float a new company.

The group, which operates in six verticals: retail, capital, brands, space, media and logistics—expects to take its combined revenues to Rs30,000 crore in three years.

Saying an application will be filed soon with market regulator, Kishore Biyani, chief executive added, “the (latest) company will be a new one, not something hived off from our existing operations." He refused to identify what business the new company would operate in though an executive of one of Future’s group companies said the new company will be floated by flagship Pantaloon Retail (India) Ltd.

Saumya Roy in Mumbai and Rasul Bailay in New Delhi contributed to this story.