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Future Retail allots 93,10,987 equity shares

Capital Market 

As purchase consideration for of 100% stake in Hypercity Retail

Future Retail has allotted 93,10,987 equity of Rs 2 each of the Company at a price of Rs 537 to erstwhile shareholders of Hypercity Retail for consideration other than cash aggregating to Rs 500 crore towards share consideration as part of purchase consideration for of 100% of the equity of Hypercity Retail.

With this allotment, the equity share capital of the Company has increased to Rs 100.39 crore dividend into 50,19,75,154 equity of Rs 2 each.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 01 2017. 18:12 IST