Future Ventures India (FVIL) has exercised the option for conversion of zero percent optionally - convertible debentures held in Aadhaar Retailing (ARL) in terms of which, and consequent to further subscription of shares offered by ARL, 42,00,000 equity shares have been issued to FVIL. Post this subscription, the shareholding of FVIL in ARL continues to be at 70% with the balance 30% in ARL held by the Godrej Group.
ARL is in the business of rural and semi-urban distribution of agricultural and consumer products and general merchandise. It provides complete one stop solution for all the needs of the rural customer and provides urban shopping experience. ARL has launched its rural wholesale and distribution business with opening of its first ‘Aadhaar Wholesale’ store in Kalol at Gujarat.
For the nine months of the current fiscal ended on December 31, 2011, ARL has achieved total income of Rs 69.03 crore as against Rs 66.42 crore for the previous year.
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.
| Company Name | CMP |
|---|---|
| Redington | 215.50 |
| Adani Enterprises | 2238.05 |
| Amrapali Industries | 17.77 |
| Rashi Peripheral | 457.50 |
| PDS | 278.05 |
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