Future Ventures IPO opens Apr 25

Future Ventures Ltd,a unit of the Future Group which runs the country8217;s top listed retailer Pantaloon Retail ,said on Tuesday its planned 7.5 billion rupee initial public offering of shares will open on April 25.

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

The company invests in businesses which are strategically important to the group8217;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.