The Future Group's Future Corporate Resources Ltd, has sold 2.02 per cent stake in its erstwhile group firm Pantaloons Fashion & Retail, according to media reports.
The company's holding in Pantaloons Fashion & Retail, now a part of the Aditya Birla group, has come down to 7.71 per cent after the stake sale. The sale included 18.71 lakh shares in Pantaloons through open market and inter se transfer through off market transaction between July 13, 2015 and August 17, 2015, the company said in a BSE filing.
In 2012, Aditya Birla Nuvo Ltd had entered into an agreement with the Future Group to infuse Rs 1,600 crore into Pantaloons and acquire a majority stake in the store chain. (SH)
Fibre2Fashion News Desk – India
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