Greedy Kishore Biyani is planning to hive off Big Bazaar, the largest retail format of the group into a separate company. Mr. Kishore Biyani said,
We are looking at various possibilities to hive off Big Bazaar and the decision would be taken very soon. The proposal is at an initial stage and the decision has to be taken by the board. The move would help the group raise money for Big Bazaar, besides enabling it to continue expanding the network. However, the entity will not be listed immediately.
This is the typical mindset of Indian CEOs. Recall half a dozen Videocon & BPL companies in early 90s which were later consolidated into one ? They just want to cash-in on the Indian bull market. BPL and Videocon raised money separately for TV ventures and other consumer durables. There is absolutely no need to hive off Big Bazaar and it should instead try to consolidate and find operating synergies with other retail chains within the group.