Future Retail slumps ex-scheme of arrangement

Meanwhile, the S&P BSE Sensex was down 46.66 points, or 0.25%, to 18,672.63.

On BSE, 4.80 lakh shares were traded in the counter as against an average daily volume of 6.04 lakh shares in the past one quarter.

The stock hit a high of Rs 132.10 and a low of Rs 124.75 so far during the day. The stock had hit a 52-week high of Rs 275.75 on 22 January 2013. The stock had hit a 52-week low of Rs 119.25 on 13 June 2013.

The stock had outperformed the market over the past one month till 20 June 2013, sliding 0.47% compared with the Sensex's 7.44% fall. The scrip had, however, underperformed the market in past one quarter, falling 7.21% as against Sensex's 0.87% fall.

The mid-cap company has an equity capital of Rs 46.31 crore. Face value per share is Rs 2.

As per the scheme, shareholders will receive 1 fully paid equity share of Rs 2 each of Future Lifestyle Fashions (FLFL) for every 3 equity shares of Rs 2 each held in Future Retail.

Further, the shareholders will receive 1 fully paid equity share of Rs. 2 each of FLFL for every 3 Class B (Series-1) shares of Rs 2 each held in Future Retail. The record date for the scheme of arrangement is 24 June 2013.

Future Retail's net profit declined 54.51% to Rs 2.47 crore on 17.59% drop in net sales to Rs 911.46 crore in Q1 March 2013 over Q1 March 2012.

Future Retail, earlier known as Pantaloon Retail (India), is the flagship company of the Future Group. It has presence in 93 cities and 60 rural locations across the country through over 17 million square feet of retail space.

Powered by Capital Market - Live News