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Block Deal Alert: Future Consumer, Gayatri Projects, Redington India
Future Enterprises Ltd. sold their entire holding of 15 crore shares in Future Consumer Ltd.
06 Jul 2017, 11:51 AM IST 
Kishore Biyani, founder and chief executive officer of Future Group, poses in his company’s office in Mumbai, India. (Photographer: Santosh Verma/Bloomberg News.)
In an inter-se promoter transfer, Future Enterprises Ltd. sold its entire stake in Future Consumer Ltd. to Future Capital Investment Private Ltd, a company spokesperson told BloombergQuint by phone.
Around 15 crore shares or 9 percent equity changed hands at Rs 32.70 each on the National Stock Exchange. The entire transaction was valued at around Rs 490 crore, Bloomberg data showed.
Shares of both the Kishore Biyani-led firms gained over 7 percent in early trading – the most in over a month.
More Block Deal Alerts
- Gayatri Projects Ltd. had around 1.1 crore shares (or 6.2 percent equity) change hands at Rs 130 apiece on the National Stock Exchange (NSE). The stock gained as much as 9.7 percent, the most in over a month.
- Redington India Ltd. had around 2 crore shares (or 5 percent equity) change hands at Rs 130 on the BSE in single block deal. The stock rose as much as 8.6 percent to Rs 138.
- Welspun Corp Ltd. had around 27 lakh shares change hands at Rs 108.10 apiece on the BSE. The stock climbed nearly 9 percent in early trade, but pared most of its gain soon thereafter.