Future Enterprise exits from FMCG arm
Mumbai: Kishore Biyani-led Future Group company Future Enterprise Limited on Thursday sold nearly 15 crore shares in the group’s FMCG firm Future Consumer Limited in a block deal at “prevailing market rate at time of trade”, the company said in a stock exchange filing.
These shares constituted nearly 9% of Future Consumer’s total shareholding. The stake was picked up by Future Capital Private Limited, “a promoter group company”, Future Enterprise said in the filing.
Future Capital was set up in February 2006 as an investment firm and has Biyani’s daughter Ashni Biyani on the board of directors, as per data from the Registrar of Companies.
With this transaction, Future Enterprise has almost completely exited from Future Consumer, holding only 100 shares, the filing added.