Consequent to fund raising by FLFL Lifestyle Brands and resulting dilution of stake
Future Lifestyle Fashions announced that its subsidiary, FLFL Lifestyle Brands raised funds by way of issue of equity shares to the Investors. Post such issue of equity shares by FLBL to the Investors, the Company's equity stake in the FLBL has been diluted to 49% of the paid up equity capital of FLBL and hence it has ceased to be a subsidiary of the Company.Consequently, Future Style Lab, Rachika Trading, Mineral Fashions, Elisir Lifestyle and Indus-Leaque Clothing (subsidiaries of FLBL and hence, step down subsidiaries of the Company) also ceased to be subsidiaries of the Company.
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