Future Capital IPO approved by Pantaloon Board

Future Capital Holdings, the financial arm of the Kishore Biyani-owned Pantaloon Retail, has decided to raise money from the market through its maiden public issue. The board of directors of Pantaloon Retail, which controls nearly 74% stake in Future Capital, today took a decision to this effect.

UBS Investment has recently valued the business of Future Capital to be around Rs 3,000 crore. So Pantaloon’s stake is valued at Rs 2,200 crore or Rs 140 a share.

Sources said the exact size of the issue was not decided yet but it would take at least six months for Future Capital Holdings to launch the IPO.

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