Future101, incorporated in July, 2013 is engaged in manufacturing, distribution and sale of luxury apparels, etc. in India. Future101 belongs to a similar industry as Reliance Brands. The company expect growth in this sector and value creation from this investment.
Future101 reported annual turnover of Rs. 22.18 crore, Rs. 20.85 crore and Rs.17.11 crore in FY 2017-18, FY 2016-17 and FY 2015-16, respectively.
No regulatory approvals were required for the said acquisition of shares. The investment does not fall within related party transaction and none of RIL's promoter / promoter group / group companies have interest in Future101.
Powered by Capital Market - Live News