Future Retail tanks 32% as stock quotes ex-demerger
Future Retail Ltd plunged over 40 per cent in trade on Friday, as the stock goes ex-scheme of arrangement today.
By ET Online |
NEW DELHI: Future Retail Ltd plunged over 40 per cent in trade on Friday, as the stock goes ex-scheme of arrangement today. The company de-merged its fashion business and formed a new company Future Lifestyle Fashions.
Future Retail finally closed 32.81 per cent lower at Rs 98.60. The stock hit a low of Rs 83.70 and a high of Rs 132.10 in trade today.
Future Retail has fixed a record date as June 24, 2013 for determining share entitlement to shareholders of the company.
The shareholders will receive one equity share of Rs 2 each of Future Lifestyle Fashions (FLFL) for every three equity shares of Rs 2 each held in the company.
Future Retail finally closed 32.81 per cent lower at Rs 98.60. The stock hit a low of Rs 83.70 and a high of Rs 132.10 in trade today.
Future Retail has fixed a record date as June 24, 2013 for determining share entitlement to shareholders of the company.
The shareholders will receive one equity share of Rs 2 each of Future Lifestyle Fashions (FLFL) for every three equity shares of Rs 2 each held in the company.
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