Future Retail slumps over 40 pct on fashion brands spinoff

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)


Updated Date: Jun 22, 2013 04:15 AM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent