Future Consumer Enterprise (FCEL), a unit of the Kishore Biyani-led Future Group, has taken full control of Aadhaar Wholesale Trading and Distribution with an acquisition of balance 30% stake held by Godrej Agrovet and Anamudi Real Estates LLP, in a stock swap deal. It has swapped the 30% stake by issuing 45.9 million equity shares to the sellers with a lock-in period of one year.
In 2008, FCEL (then known as Future Ventures) had bought a 70% stake for Rs 30.18 crore in Godrej Agrovet, the promoter of Aadhar chain of rural supermarkets.
Future Consumer Enterprise is the alternate investment arm of Future Group, India's largest retailer. The Future Group is a business group, led by Kishore Biyani, focusing on consumption-led businesses in India and is also one of India’s leading organized multi-format retailers.
