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Big Bazaar may be hived off from the Future Group
By siliconindia
Bangalore: Future Group is considering to separate its retail hypermarket chain Big Bazaar and list it to unlock value as a part of restructuring and growth plans for becoming a 
25,000 crore group in the next four years.
The Future Group is planning to add 18 million square feet of retail space across various formats by 2013-2014 and various options to raise money for expansion and listing of the retail chain Big Bazaar is one of them.
"There are opportunities which we are looking at, including whether one should knock-off Big Bazaar into a separate company and probably look at listing or a follow up offer on that," said Kishore Biyani, Founder and CEO, Future Group.
"There are possibilities on hiving off Big Bazaar but nothing is on the cards at this moment. It depends on the fund raising exercise," added Biyani.
The group currently has a turnover of 10,000 crore. Biyani had stated earlier this week that the group is looking to grow by two and half times.
Future Group has currently two listed entities, retail company Pantaloon Retail India and its financial arm Future Capital Holdings.
There are around 116 Big Bazaar hypermarkets across the country with a total retail area of over four million square feet. Over 1.6 lakh products in various segments are marketed in these hypermarkets like apparels, accessories, electronics, toys and games and home and kitchen appliances.
Big Bazaar had reported a turnover of 3,600 crore in 2008-2009. The Future Group had stated to expand the chain to 300 supermarkets by 2010-2011 with a target for achieving a turnover of 13,000 crore. The group is in the process of selling non-core assets, besides going ahead with the initial public offer of its venture capital arm, Future Ventures for raising funds.
25,000 crore group in the next four years.
The Future Group is planning to add 18 million square feet of retail space across various formats by 2013-2014 and various options to raise money for expansion and listing of the retail chain Big Bazaar is one of them.
"There are opportunities which we are looking at, including whether one should knock-off Big Bazaar into a separate company and probably look at listing or a follow up offer on that," said Kishore Biyani, Founder and CEO, Future Group.
"There are possibilities on hiving off Big Bazaar but nothing is on the cards at this moment. It depends on the fund raising exercise," added Biyani.
The group currently has a turnover of 10,000 crore. Biyani had stated earlier this week that the group is looking to grow by two and half times.
Future Group has currently two listed entities, retail company Pantaloon Retail India and its financial arm Future Capital Holdings.
There are around 116 Big Bazaar hypermarkets across the country with a total retail area of over four million square feet. Over 1.6 lakh products in various segments are marketed in these hypermarkets like apparels, accessories, electronics, toys and games and home and kitchen appliances.
Big Bazaar had reported a turnover of 3,600 crore in 2008-2009. The Future Group had stated to expand the chain to 300 supermarkets by 2010-2011 with a target for achieving a turnover of 13,000 crore. The group is in the process of selling non-core assets, besides going ahead with the initial public offer of its venture capital arm, Future Ventures for raising funds.