Sign in to your SiliconIndia account
Email:       Password:  
Don't have SiliconIndia account? Sign up     Forgot your password? Reset

Future Logistics to raise $25 Mn via PEs

By SiliconIndia,Tuesday, 15 April 2008, 07:37 Hrs
New Delhi: Future Logistics Solutions (FLSL), the logistics arm of Future Group, will raise $25 million (Rs10 crore) by selling stakes in the venture to private equity firms, reported Mint.

Talking about the funding plans, chief executive of FLSL, Anshuman Singh said," We are in talks with five Indian and foreign private equity companies and a deal is expected in a month." The company has just entered the valuation phase and the private equity companies are yet to figure out the actual valuation of the firm that takes care of most of Future Group?s logistical apparatus.
Is social media more addictive than cigarettes?
YES
NO


Kishore Biyani, chief, Future Group, had earlier said that he wanted to raise money by selling stake in subsidiaries including Future Media India, and FLSL to fund the company's retail plans.

The money raised will be used to upgrade technology and infrastructure at FLSL, adding the firm plans to invest around $88 million (Rs 350 crore) in the next three years.

Currently, the company handles around three million merchandise items every day, while catering to the hundreds of retail stores owned by the group. It expects to ramp up capacity to 30 million items a day as the group expands its chain of stores.

   
Write your comment now     |     Submit your news/press release


Your Name    Email: 
Type the characters you see in the picture

  Cancel
Let our editorial department know about any news about your company, your organization, or yourself, or any press release that you have. If we find it suitable for our audience, we will contact you and make a news. Please also share any links for the news.

Chr left
Your name     Email 
Type the characters you see in the picture

Beautiful and dress selection, please go to Dresses
Plan on visiting the Lotus Temple? Get Great Deals on Delhi Hotels !
Buy India Wholesale Products on DHgate.com



News:           Technology   |   Enterprise IT   |   Tech Products   |   Startups   |   Finance   |   Business   |   Career   |   Magazine  |   Dailydose   |   News archive   |  
RSS
Network:       Network   |   Profile   |   Messages   |   Scrapbook   |   Find   |   Blogs   |   Communities   |   Events   |   Q&A   |   CXO Insights  
Career:        Jobs   |   Companies     |   Mentorship   |   Videos   |   Career blogs   |   Training institutions  |   Freshers
Online courses:   Web developer   |   Java developer   |   CCNA training   |   SEO   |   SAS   |   SQL server 2005   |   J2EE
Education:   MBA   |  MCA   |   Engineering   |   Overseas Education   |   Internship
Life:                  Jokes   |    Bookstore   |   Relocate  |  Marketplace
Cities:             Startup   |  Real estate   |   Finance  
Company:   About us   |   Contact   |   Help   |   Community rules   |   Advertise with us   |   Sitemap
Member directory:   A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z   
and help us continue to improve SiliconIndia
© 2010 SiliconIndia all rights reserved