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Future Retail Ltd.

BSE: 540064 Sector: Others
NSE: FRETAIL ISIN Code: INE752P01024
BSE 00:00 | 20 Jul 533.85 9.75
(1.86%)
OPEN

520.00

HIGH

538.00

LOW

520.00

NSE 00:00 | 20 Jul 533.90 8.35
(1.59%)
OPEN

525.25

HIGH

539.00

LOW

519.00

OPEN 520.00
PREVIOUS CLOSE 524.10
VOLUME 9676
52-Week high 657.09
52-Week low 379.32
P/E 43.62
Mkt Cap.(Rs cr) 26,826
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 520.00
CLOSE 524.10
VOLUME 9676
52-Week high 657.09
52-Week low 379.32
P/E 43.62
Mkt Cap.(Rs cr) 26,826
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Future Retail Ltd. (FRETAIL) - Company History

Future Retail Ltd was incorporated in the year 1987 under the name of Manz Wear Private Ltd. The company changed its name to Pantaloon Fashions (India) Limited in 1991. Further it has changed its name to Future Retail Ltd in 2013. Bharti Retail Ltd joined hand with the company in 2016. Subsequently name of Bharti Retail Ltd is changed to Future Retail Ltd.Future Retail Ltd is the flagship company of Future Group India's retail pioneer catering to the entire Indian consumption space. Through multiple retail formats the company connects a diverse and passionate community of Indian buyers sellers and businesses. The collective impact on business is staggering: Over 500 million customers walk into its stores each year and choose products and services supplied by over 30000 small medium and large entrepreneurs and manufacturers from across India. Future Retail operates multiple retail formats in both the hypermarket supermarket and home segments of the Indian consumer market including: Big Bazaar Easyday Fashion at Big Bazaar Foodhall Home Town EzoneAs India's leading retailer Future Retail inspires trust through innovative offerings quality products and affordable prices that help customers achieve a better quality of life every day. It serves customers in more than 250 cities across the country through over 12 million square feet of retail space.On 7 November 2016 Future Retail announced that the company's Board of Directors has approved a proposed consolidation of the retail and allied businesses of Heritage Foods Limited. The retail business of Heritage Foods includes the popular Heritage store chain of 124 stores in three key southern cities of Hyderabad Bangalore and Chennai. These retail stores compliment well with Future Retail's existing network of 379 small format EasyDay stores in northern cities of India. The retail and allied businesses of Heritage Foods posted revenue of Rs 629.70 crore during the financial year 2015-16. On closure of the transaction Heritage Foods will own 3.65% of the shareholding in Future Retail through fresh issuance of shares by the company. As part of the scheme of arrangement for the acquisition Heritage Foods will spin off its retail bakery agri-sourcing and veterinary care business in a fully owned subsidiary. Subsequently all these businesses except veterinary care will then be merged with Future Retail.The Board of Directors of Future Retail at its meeting held on 20 April 2017 considered and approved segregation of the Home Retail Business of the company operated through HomeTown stores into Praxis Home Retail Private Limited by way of a demerger. The proposed segregation would be carried out vide a Composite Scheme of Arrangement between Future Retail and Bluerock eServices Private Limited (BSPL) and Praxis Home Retail Private Limited (PHRPL or the resulting company) and their respective shareholders. In consideration of the demerger of the Home Retail Business of FRL into PHRPL in terms of the scheme PHRPL will issue one fully paid up equity share of Rs 5 each to the equity shareholders of FRL as on the record date for every 20 fully paid up equity shares of Rs 2 each of FRL. The equity shares of PHRPL to be issued to the shareholders of FRL pursuant to the scheme shall be listed on the stock exchanges. The Board of Directors of Future Retail at its meeting held on 20 April 2017 approved increase in the investment limit of Registered Foreign Portfolio Investors (including FIIs) in equity share capital of the company from present 24% to 49% of the company's total paid-up equity share capital. The Board of Directors of Future Retail at its meeting held on 5 October 2017 considered and approved the acquisition of entire equity share capital of M/s Hypercity Retail (India) Limited (HRIL) from its existing shareholders for part cash and part share consideration aggregating up to Rs 655 crore. HRIL is mainly into retail business and operating its various stores across India and does not have any overseas presence. HRIL clocked turnover of Rs 1191 crore in FY 2016-17.The Board of Directors of Future Retail at its meeting held on 6 December 2017 considered and approved the Scheme of Arrangement between Hypercity Retail (India) Limited (HRIL) and Future Retail Limited. The Scheme inter-alia provides for the demerger of Retail Business Undertaking of HRIL into the company and for reorganisation and reclassification of balance lying in the Capital Reserve Account into Securities Premium Account of the company. HRIL is a wholly owned subsidiary of Future Retail. On 13 March 2018 Future Retail announced that the company has entered into Shareholders Agreement on 13 March 2018 with Khimji Ramdas LLC a leading business conglomerate in Oman for the formation of a joint venture company to undertake business to operate fbb brand fashion outlets commencing in Oman and across other member states of GCC.On 1 June 2018 Future Retail announced that it has completed the acquisition of the Retail Business Undertaking operated under the brand name Foodworld (Foodworld Business) from Foodworld Supermarkets Private Limited (FSPL) in terms of Business Transfer Agreement and other related documents (the Agreement) which were executed between the company FSPL and erstwhile Promoters of FSPL for acquisition of Foodworld Business. FSPL originally incorporated on 25 August 1999 is mainly into retail business format in food FMCG and general merchandise category. For FY 2017-18 FSPL clocked turnover of Rs 119 crore on provisional basis.