Kerala-born billionaire Yusuff Ali, Chairman & Managing Director of Lulu Group, is set to launch the hypermarket chain Lulu Retail Holdings' IPO in the UAE. The IPO, set to be one of UAE's biggest IPOs this year, is set to run from October 28 to November 5. The IPO could raise $1.7 billion-$1.8 billion for a 25% stake, Reuters reported.