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Future Ventures to invest in Indus-League Clothing

04
Jun '12
Future Ventures India Limited (FVIL) has subscribed to and has been allotted 20,00,000 Unsecured 0% Optionally Convertible Debentures of Indus-League Clothing Limited (ILCL).

ILCL is a subsidiary of FVIL, in which FVIL holds 95.29% of the paid-up equity share capital of ILCL.

ILCL is engaged in the business of branded apparels and accessories using its brands indigo Nation, Scullers, Jealous, Urbana, Urban Yoga, Daniel Hechter, Lee Cooper and John Miller.

ILCL has recently entered into licensing arrangement for use of the brand "Manchester United".

ILCL has a joint venture into Celio Future Fashion Limited and also holds 26% into Turtle Limited, which are focused on Men's apparels using respective brands "Celio" and "Turtle".

The total income of ILCL for the financial year ended 31st March, 2012 is Rs 369.53 Crore with Profit After Tax of Rs 3.75 Crore during the previous year.

In the regular course of its business operations, ILCL enters into business transactions with the Promoters and/or Promoter Group companies of FVIL.

Indus-League is an established designer, manufacturer and retailer of readymade garments. It has market presence in India, Sri Lanka, Middle East Asia, United Arab Emirates and Bahrain. Indus League operates through 80 exclusive brand outlets and 345 multi-brand outlets, including 96 Future Group stores.

FVIL is part of Future Group, which was founded on a simple idea -- Rewrite Rules, Retain Values. Under the leadership of Mr. Kishore Biyani, Future Group began its pioneering journey 25 years ago to transform India's Retail space and create a positive change in the communities, societies and business sectors in which it operates.

Future Ventures India Limited


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