Future Capital Holdings and Pantaloon Retail rallied 4-5% on Tuesday and gained 5-7% yesterday after Kishore Biyani, CEO, Pantaloon said Future Group had decided to sell its stake of 54% in Future Capital Holdings.
The sale will be conducted in two tranches. In the first tranche 40% will be sold followed by an open offer of 26% by private equity investor Warburg Pincus at a price of Rs 162 a share. This will give Future Group an equity value of Rs 1,050 crore and helped to reduce debt burden.
At 10:32 hours IST, Future Capital Holdings was trading at Rs 151, up 5.19% and its market capitalisation currently stands at Rs 978.46 crore.
Pantaloon Retail was trading at Rs 154.65, up 4.18% with market capitalisation of Rs 3,455.18 crore.
Pantaloon Retail was trading at Rs 154.65, up 4.18% with market capitalisation of Rs 3,455.18 crore.
No comments:
Post a Comment