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Future Consumer surges on inking pact to sell stake in ACK

03 Oct 2018 Evaluate

Future Consumer is currently trading at Rs. 40.40, up by 1.80 points or 4.66% from its previous closing of Rs. 38.60 on the BSE.

The scrip opened at Rs. 39.00 and has touched a high and low of Rs. 41.20 and Rs. 38.20 respectively. So far 289229 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 6 has touched a 52 week high of Rs. 79.45 on 27-Dec-2017 and a 52 week low of Rs. 36.45 on 01-Oct-2018.

Last one week high and low of the scrip stood at Rs. 43.35 and Rs. 36.45 respectively. The current market cap of the company is Rs. 7797.25 crore.

The promoters holding in the company stood at 44.51%, while Institutions and Non-Institutions held 17.48% and 38.01% respectively.

Future Consumer has executed definitive agreements to sell its stake in Amar Chitra Katha (ACK) to India Special Situations Scheme I (a scheme of India Special Situations Trust an alternative investment fund) (Purchaser), together with other institutional shareholders of ACK also selling their respective holdings in ACK to the said Purchaser on September 29, 2018.

Upon completion of the aforesaid transaction in accordance to the terms and conditions under the said agreements, the company shall receive an aggregate consideration of Rs 44.39 crore and consequently ACK shall cease to be subsidiary of the company.

Further, the Company has also agreed to subscribe to 4977 compulsorily convertible debentures of ACK amounting to Rs 49.77 crore in lieu and being equivalent to the value of outstanding loans granted by the company to ACK (including interest accrued thereon). The CCDs shall be convertible at the expiry of three years at the then prevailing fair value of ACK.

Future Consumer (formerly Future Consumer Enterprise) is a holding company. It is a food company, which is engaged in branding, marketing, sourcing, manufacturing and distribution of fast moving consumer goods, food and processed food products. It also has agri-sourcing operations in India.

Future Consumer Share Price

0.32 0.00 (0.00%)
29-Jun-2026 16:59 View Price Chart
Peers
Company Name CMP
Redington 276.55
Amrapali Industries 32.28
Adani Enterprises 3004.70
Rashi Peripheral 756.20
PDS 366.75
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