Future Enterprises gets board nod for divestment

Kishore Biyani, CEO, Future group
Kishore Biyani's Future Enterprises today said its board has given in-principle approval for considering various divestment options for investments held by the company.

The company was responding to media reports that Future Enterprises is looking to sell 50 per cent stake in its insurance venture Future Generali.

"The board has given in-principle authority for considering various divestment options for investments held by the company," Future Enterprises said in a regulatory filing.

It, however, denied having arrived at any such binding transaction or final understanding till date.

Shares of Future Enterprises were trading 14.68 per cent higher at Rs 33.20 on the BSE.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel