A unit of India's Future Group, whose claim to fame is running the country's top listed retailer Pantaloon Retail, will hit the stock markets by the February or March 2011.

According to a company official, who refused to be identified, the company is looking to raise as much as 7.5 billion rupees via the IPO and the primary intention is to use the proceeds to build, invest in or acquire businesses in India's growing "consumption-led" sectors.

It may be noted here that the company filed its draft red herring prospectus in the month of August.

In fact, the company had showed its intentions to float Future Ventures in the period of August 2008 but the decision was delayed because of the financial crisis that made a lot of waves in the global economies and a stock market collapse.

Kishore Biyani, the group chief executive officer, said that the company is looking at clocking at least Rs. 10 billion from the e-commerce venture in the next 18 to 24 months via its company Future Capital Holdings.

Moreover, Biyani also pointed out the fact that the company expects its gross margins to reach a level of 10-12% from the e-commerce venture futurebazaar. com.