Pantaloon Retail to transfer 53.67 percent to Future Capital

NEW DELHI: Future Group firm Pantaloon Retail India ( PRIL) will transfer its 53.67 per cent stake in Future Capital Holdings Ltd to Future Value Retail ( FVRL).

Future Value Retail is a wholly-owned subsidiary of Pantaloon Retail (India) Ltd.

The proposed transfer will be completed within 90 days starting May 18, 2012, Future Capital Holdings said in a BSE filing.

Around 3.4 crore shares would be transferred by PRIL to FVRL at a weighted average market price of Rs 133.89.

Shares of Future Capital Holdings Ltd closed at Rs 135.20 apiece, down 0.33 per cent from the previous close on the BSE.