Future Retail slumps over 40 pct on fashion brands spinoff

Fri Jun 21, 2013 3:24pm IST

A trader looks at a screen at a stock brokerage firm in Mumbai March 13, 2008. REUTERS/Arko Datta/Files

A trader looks at a screen at a stock brokerage firm in Mumbai March 13, 2008.

Credit: Reuters/Arko Datta/Files

Related Topics

Stocks

   

Reuters Market Eye - Shares in Future Retail(FURE.NS) fall as much as 42.8 percent as Friday marks the first day in which the stock starts trading after the retailer's fashion brands were spun off into a separate unit.

Future, formerly known as Pantaloon Retail Ltd, and Future Ventures India FVIL.NS agreed in November 2012 to demerge their fashion businesses into a new listed unit that will simplify the businesses into three main segments.

Under the restructuring, all fashion brands currently held by Future Retail and Future Ventures will be transferred to Future Lifestyle, along with a debt of 12.26 billion rupees.

(Reporting by Abhishek Vishnoi)

FILED UNDER:

Reuters Showcase

Markets Weekahead

Markets Weekahead

Column - Caution advised in a trader’s market  Full Article 

Reuters Poll

Reuters Poll

RBI seen holding rates steady on Tuesday, minority of analysts expect cut  Full Article 

GDP Revised

GDP Revised

Economic growth revised up by almost 50 percent  Full Article 

Australian Open

Australian Open

Hingis wins Australian Open mixed doubles title with Paes   Full Article 

Houston's Daughter

Houston's Daughter

Bobbi Kristina Brown revived after found unresponsive in tub  Full Article 

India Art Fair

India Art Fair

Art fair turns India's capital into art hub.  Full Article 

Movie Review

Movie Review

"Rahasya" is an ode to Agatha Christie.  Full Article 

Review: Hawaizaada

Review: Hawaizaada

Movie Review: Hawaizaada  Full Article | Related Story 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage