Future Retail slumps over 40 pct on fashion brands spinoff

by Jun 22, 2013

Reuters Market Eye - Shares in Future Retail(FURE.NS) fall as much as 42.8 percent as Friday marks the first day in which the stock starts trading after the retailer's fashion brands were spun off into a separate unit.

Future, formerly known as Pantaloon Retail Ltd, and Future Ventures India (FVIL.NS) agreed in November 2012 to demerge their fashion businesses into a new listed unit that will simplify the businesses into three main segments.

Under the restructuring, all fashion brands currently held by Future Retail and Future Ventures will be transferred to Future Lifestyle, along with a debt of 12.26 billion rupees.

(Reporting by Abhishek Vishnoi)

Firstpost encourages open discussion and debate, but please adhere to the rules below, before posting. Comments that are found to be in violation of any one or more of the guidelines will be automatically deleted:

Personal attacks/name calling will not be tolerated. This applies to comments directed at the author, other commenters and other politicians/public figures

Please do not post comments that target a specific community, caste, nationality or religion.

While you do not have to use your real name, any commenters using any Firstpost writer's name will be deleted, and the commenter banned from participating in any future discussions.

Comments will be moderated for abusive and offensive language.

Please read our comments and moderation policy before posting

x