Future Enterprises Ltd completes sale of stake in General Insurance JV

Future Enterprises Ltd had agreed to sell 25% stake in its General Insurance Joint Venture, Future Generali India Insurance Company Limited ("FGIICL") to its Joint Venture partner, Generali Participations Netherlands N. V. ("Generali"), subject to the receipt of the necessary approvals from governmental and regulatory authorities.

Pursuant to receipt of the key approvals from governmental and regulatory authorities, the said transaction has been consummated on 5th May, 2022. Pursuant to the consummation of the transaction, the Company has sold 25% shares for a consideration of Rs. 1,266.07 crore.

Post completion of the transaction, the Company continues to hold (directly and indirectly) 24.91% shares in FGIICL.

Shares of Future Enterprises Limited was last trading in BSE at Rs. 3.91 as compared to the previous close of Rs. 3.98. The total number of shares traded during the day was 2364395 in over 1180 trades.

The stock hit an intraday high of Rs. 4.17 and intraday low of 3.83. The net turnover during the day was Rs. 9581120.00.

Source : Equity Bulls

Keywords

FutureEnterprises INE623B01027 StakeSale FutureGeneraliIndiaInsuranceCompany