Kishore Biyani’s Future Group (Pantaloon) may be in the process of raising Rs. 80-120 crore (around $20-30 million) for their e-shopping portal Futurebazaar.com, as per this report in NDTV. As per NDTVs sources, the company is looking to dilute 10-15 percent stake, and is in talks with Sequoia Capital and the Carlyle Group. Apparently, futurebazaar.com is doing business of Rs. 10 lakhs a day.

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Now, the story also quotes Biyani from a previous interview talking about funds that the company is planning to raise, and undoubtedly, the funds required for Futurebazaar.com would be far less than what is required for their retail plans. I’m just wondering about why they would look to raise funds separately for the portal, and why wouldn’t they wait for e-commerce to really kick in over the next couple of years, and sell stake at higher valuations? Surely, they don’t need seed capital.