Future Market Networks Ltd has completed the acquisition of 50% equity share capital of Future Retail Destination Limited (viz. 1,50,00,000 equity shares of Rs.10/- each) held by IL&FS Township and Urban Assets Limited (ITUAL) in terms of the Share Purchase Agreement entered into between the parties on May 31, 2017 and total consideration towards the acquisition was Rs 14,00,00,000 (Rupees Fourteen Crores Only).
Consequent to the completion of aforesaid acquisition, Future Retail Destination Limited (FRDL) became a Wholly Owned Subsidiary of the Company. FRDL is a special purpose vehicle company to set up an integrated large scale warehouse facility at Jhajjar, Haryana.
Shares of FUTURE MARKET NETWORKS LTD. was last trading in BSE at Rs.79.6 as compared to the previous close of Rs. 81.15. The total number of shares traded during the day was 7260 in over 166 trades.
The stock hit an intraday high of Rs. 83.6 and intraday low of 78.5. The net turnover during the day was Rs. 594008.