Future Supply Chain up 6% as CCI approves stake purchase by Nippon Express

Nippon Express will buy 14.6 per cent stake of the existing share capital held by special situations fund SSG Capital in Future Supply Chain

Stocks of Future Supply Chain Solutions Limited (FSC) gained 6 per cent to Rs 529 intra-day on the NSE on Wednesday after the competition watchdog Competition Commission of India (CCI) approved Nippon Express' acquistion of 22 per cent stake in the company for Rs 641 crore.
 

In a statement to the exchanges, Future Supply Chain said, “The proposed combination pertains to the acquisition by Nippon Express of about 22 per cent of the total issued and paid up share capital of Future Supply Chain on a fully diluted basis.” READ THE FILING HERE

In September, the company had