Entertainment World Developers has revealed its plans to launch Rs 600-crore initial public offer (IPO) by early next year.

The company will fill the DRHP with market regulator SEBI by January 2010.

According to an official statement, the promoters of company would dilute 25 per cent of their holding in the company. The promoters of the company, the Kalani family, currently hold 60 per cent in EWDPL, while the remaining is held by Phoenix Mills.

The company would utilize the issue proceeds for general corporate purposes and repayment of debt.

Presently, Entertainment World is developing 10 hotels, 13 shopping complex, besides 11 townships in cities spread across central, western and southern India.

ICICI Securities, Kotak, Edelweiss and Macquarie are appointed as book running lead managers for the issue.

Infosys Technologies, India’s second-largest software exporter, notified in a release that its chairman’s wife Sudha Murthy has sold 2 million shares, or about 22 percent of her total holding for over Rs 430 crore in the open market.

The latest move has been taken by Mrs Sudha Murthy for setting up a venture capital fund, which will be known as ‘Catamaran’.

According to an official communiqué, the new fund will encourage and support young entrepreneurs having brilliant business ideas. The Fund will primarily invest in India across sectors such as healthcare, retail, and technology.

Post sell-off, Sudha’s holding will be dropped to 73.14 lakh shares, representing 1.27 per cent stake in the company.

It should be recalled that last month, N R Narayana Murthy has sold 0.13 per cent stake to raise Rs 174 crore to invest in the venture capital fund.

The stock of company today closed at Rs 2223 on BSE.