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Business News/ Markets / Stock Markets/  Arisaig India Fund trims stake in Future Consumer by 2%
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Arisaig India Fund trims stake in Future Consumer by 2%

Arisaig India Fund offloaded 3.84 crore shares, or 2% stake, on July 13
  • Based on the weighted average price of the stock at ₹11.63 per scrip on July 13, Arisaig India Fund's stake sale would be for an estimated value of ₹44.65 crore
  • Arisaig India Fund Ltd has cut its stake in Future Consumer by 2% by selling 3.84 crore shares in the open marketPremium
    Arisaig India Fund Ltd has cut its stake in Future Consumer by 2% by selling 3.84 crore shares in the open market

    Arisaig India Fund Ltd has cut its stake in Future Consumer by 2% by selling 3.84 crore shares in the open market.

    According to a BSE filing, Arisaig India Fund offloaded 3.84 crore shares, or 2% stake, on July 13. Based on the weighted average price of the stock at 11.63 per scrip on July 13, Arisaig India Fund's stake sale would be for an estimated value of 44.65 crore.

    Arisaig India Fund decreased its shareholding in the company from 5.16% to 3.16%.

    Last week, Future Consumer Ltd reported a consolidated net loss of 175.46 crore for the quarter ended March 2020. The company had reported a net profit of 7.53 crore in the January-March period of the previous financial year. Its revenue from operations slipped 8.70% to 947.07 crore, against 1,037.37 crore earlier.

    The company is engaged in the business of sourcing, manufacturing and marketing fast-moving consumer goods (FMCG) and processed food products.

    Future Consumer's shares were trading 3.10% higher at 11.65 apiece on the BSE during the day.

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    This story has been published from a wire agency feed without modifications to the text.

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    Published: 15 Jul 2020, 03:51 PM IST
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