Saturday , November 26 2016
Home / Business / Kishore Biyani led Future Group sells 2.02% stake in Pantaloons

Kishore Biyani led Future Group sells 2.02% stake in Pantaloons

kishore-biyani-future-group-dnaindia

New Deji: Future Corporate Resources Ltd, a part of Kishore Biyani-led Future Group, has sold 2.02% stake in its erstwhile group firm Pantaloons Fashion & Retail.

With the stake sale, the company’s holding in Pantaloons Fashion & Retail, now a part of the Aditya Birla group, has come down to 7.71%.

“Future Corporate Resources Ltd and persons acting in concert sold 18.71 lakh shares or 2.02% stake in Pantaloons through open market and inter se transfer through off market transaction,” the company said in a BSE filing.

The shares were sold between July 13, 2015 and August 17, 2015, it added.

According to information available on the BSE, Future Corporate Resources had 14 per cent stake in Pantaloons Fashion & Retail as on June 30, 2015.

In 2012, Aditya Birla Nuvo Ltd had entered into an agreement with the Future Group to infuse Rs 1,600 crore into Pantaloons and acquire a majority stake in the store chain.

Shares of Pantaloons closed 0.53% down at Rs 207 apiece on the BSE.

PTII