Future Ventures India (FVIL) has acquired 12,63,600 equity shares of Indus-League Clothing (ILCL), a subsidiary company, aggregating to 4.30% of the paid-up share capital from two of its existing share holders. With this acquisition, FVIL shall now hold an aggregate of 95.14% of the paid-up share capital of ILCL.
ILCL owns some of the leading apparel brands like Indigo Nation, Scullers, Jealous, Urbana, Urban Yoga and exclusive license of ‘Lee Cooper’ apparels and ‘Manchester United’ merchandise.
ILCL has no relation with the promoters and/or promoter group companies of FVIL, except for business transactions that it may undertake in the normal course of business.
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.
