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Future Ventures makes additional investment in Indus Tree

02 Apr 2012 Evaluate

Future Ventures India (FVIL) has made additional investment in Indus Tree Crafts (Indus Tree) by way of subscribing an additional 11,557 equity shares of Indus Tree, a subsidiary company of FVIL, by virtue of which the holdings of FVIL in Indus Tree stands at 63.34% of the paid-up share capital of Indus Tree.

Indus Tree is engaged in the business of designing, creating, exporting and distribution of wide range of environmentally and socially sustainable products which include apparels, personal accessories, solid wood furniture, handicrafts and home decor items and are marketed under the brand ‘Mother Earth’.

The consolidated total income of Indus Tree for the nine months period ended on December 31, 2011 stands at Rs 10.22 crore as against Rs 7.32 crore for the corresponding period ended on December 31, 2010. As of December 2011, Indus Tree operates through six exclusive brand outlets and 36 shop-in-shop arrangements.

Future Ventures currently has 13 companies in its portfolio which own brands in fashion, FMCG, food processing and home products. The company invests in businesses which are strategically important to the group's retail business. It plans to use a large part of the funds for acquiring new businesses while a small part of the proceeds will be used to grow the existing businesses.

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