Pantaloon Retail to transfer 53.67% to Future Capital

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.

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Vinod Dasari, managing director, Ashok Leyland, told NDTV Profit that the company is planning to make about 36,000 vehicles in FY13-14. “We are happy about the exports market that we have developed. Southern markets are seeing revival,” he added.