Future Ventures IPO price band at 10-11 per share

Future Ventures IPO price band at 10-11 per share

Mumbai: Future Ventures Ltd, a unit of the Future Group which runs the country’s top listed retailer Pantaloon Retail , said on Tuesday it has set a price band of 10-11 rupees a share for its planned 750 crore initial public offering of shares.

The issue will open on 15 April and close on 27 April for qualified institutional bidders and on 28 April for retail and non-institutional bidders the firm said in a newspaper advertisement.

The company invests in businesses which are strategically important to the group’s retail business. It plans to use a large part of the funds for acquiring new businesses while a small part of the proceeds will be used to grow the existing businesses.

Enam Securities, JM Financial, Kotak Mahindra Capital are the book running lead managers to the issue.

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