Future Consumer Enterprise Ltd (FCEL), led by Kishore Biyani, today said a board meeting will be held later this week to consider re-alignment of the business dealing in distribution of food and FMCG products through a franchisee arrangement.
"A meeting of the Board of Directors of the company will be held on December 26, 2015 to consider and approve re-alignment of the part business undertaking of the company, concerning distribution of food and FMCG products, by way of operating through a franchisee arrangement," Future Consumer Enterprise Ltd said in a BSE filing.
It further said the meeting will also consider the "issue of compulsorily convertible debentures on a preferential basis, issue of warrants, convertible into equity shares, to promoters and/or promoter group entities on a preferential basis and issue of non-convertible debentures on a private placement basis or otherwise."
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In August, FCEL entered into a 50:50 joint venture with Switzerland-based Mibelle AG to launch personal care products in early 2016, which will be manufactured in Switzerland.
Shares of FCEL were trading at Rs 26.25 apiece, up 0.19 per cent, from their previous close on BSE.
