Meanwhile, the S&P BSE Sensex was up 136.09 points, or 0.71%, to 19,313.85.
On BSE, 8.23 lakh shares were traded in the counter. The stock hit a high of Rs 6.77 and a low of Rs 6.13 so far during the day.
Shares of Future Ventures India (FVIL) were de-listed from stock exchanges on 21 June 2013 due to restructuring within the group. With this re-listing FVIL will transform from a non-banking finance company (NBFC) and investment arm of Future Group to a food and FMCG company. Shares of FVIL settled at Rs 9.25 on 20 June 2013.
Earlier, FVIL had operations in food, FMCG, fashion and lifestyle. Now, the fashion and lifestyle division has been de-merged and a separate company Future Lifestyle Fashion has been formed.
In November 2012, the boards of Future Retail and FVIL approved a proposal to consolidate their fashion businesses into a new to be listed entity, Future Lifestyle Fashion, which would emerge as one of India's largest integrated fashion brands and retail company. Post this realignment, the Future Group will have three separate companies: FVIL, an operational entity centered around food and FMCG; Future Fashion & Lifestyle, with all the fashion brands and retailing assets; Future Retail, which will house the supermarkets like Big Bazaar.
On 24 June 2013, shareholders of FVIL were issued one share of Future Lifestyle Fashions for every 31 they held.
The re-listed Future Ventures will focus on the food and FMCG sector with a portfolio of FMCG brands, its own rural distribution chain, Aadhar and convenience store chains, KB's Fairprice & Big Apple. The FMCG brands portfolio includes Fresh & Pure, Premium Harvest, Tasty Treat, Clean Mate, Care Mate, Poonya, Ekta, Sangi's Kitchen along with Smith & Jones and Chings Secret that are owned through a 43.7% stake in Captial Foods. It also owns an upcoming food park being set up forsourcing and processing of food & FMCG products. It will focus on developing an integrated foods and FMCG business to emerge as a leader in marketing and distributing food and FMCG products and brands in the country. FVIL will also reorganise some of its businesses held in subsidiaries to emerge as an operating company and will continue to look for investment opportunities for its growth.
On a consolidated basis, Future Ventures India reported a net loss of Rs 24.55 crore in Q4 March 2013 compared with a net loss of Rs 9 crore in Q4 March 2012. Total income declined 14.6% to Rs 177.61 crore in Q4 March 2013 over Q4 March 2012.
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