 "Future Ventures to be re-listed as food & FMCG company")
New Delhi: Future Ventures, formerly an investment arm of Kishore Biyani-led Future Group, will re-list on stock exchanges tomorrow as a food and FMCG company.
The company is eyeing turnover of Rs 1,000 crore in the current financial year and will invest Rs 280 crore in expanding the business.
“Future Ventures has zero debt on its books and has cash in hand of around Rs 280 crore that will be invested for expansion of its FMCG business,” the company said in a statement.
[caption id=“attachment_926113” align=“alignright” width=“380”]  AFP[/caption]
The company was de-listed from stock exchanges in January this year due to restructuring within the group.
“With this re-listing Future Ventures will transform from a NBFC and investment arm of Future Group to a food and FMCG company,” a group spokesperson said.
Earlier, Future Ventures had operations in food, FMCG, fashion and lifestyle. Now, the fashion and lifestyle division has been de-merged and a separate company Future Lifestyle Fashion has been formed.
“Existing shareholders of Future Ventures are getting shares also in Future Lifestyle Fashion, wherein its fashion business has been transferred,” the company said.
Belgium-based fund Verlinvest and Singapore-based Arisaig have picked up close to 19 per cent in the last six months in Future Ventures.
The company will now be an operating company with eight FMCG food brands and company-owned distribution through KB’s Fairprice and Aadhaar wholesale networks.
Impact Shorts
More Shorts“By the end of the year, Future Ventures is expected to have a turnover of around Rs 1000 crore,” the company said.
Leading brands of the company include Fresh & Pure, Tasty Treat, Ektaa, Premium Harvest, Clean Mate, Sach and Think Skin.
PTI
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
