Verlinvest hikes stake in Future Consumer Enterprises to 6.5%

Investment firm Verlinvest SA (Belgium) has hiked its stake in Kishore Biyani-led Future Consumer Enterprises (FCEL) Ltd by 3.61 per cent, by buying 5.98 crore shares in the open market.

Verlinvest SA (Belgium), which had 2.89 per cent stake earlier, hiked its shareholding in the company to 6.5 per cent by buying shares on December 10, FCEL said in a filing to the BSE.

In August, FCEL entered into a 50:50 joint venture with Switzerland-based Mibelle AG to launch personal care products in early 2016, which will be manufactured in Switzerland.

Shares of Future Consumer Enterprises Ltd closed at Rs 22.60 apiece, up 0.67 per cent on BSE.