Future Ventures up over 3%
By
Research Desk
about 11 years ago
Future Ventures is up over 3.2% at Rs.6.29 and volumes were also up at 53,000 shares compared to around 46,000 shares over past two weeks.
The stock is up on news that the company is in the final stages of negotiations to sell its 22.86% stake in apparel make AND Designs India to PE fund General Atlantic for Rs.150-200 crore. General Atlantic has offered a higher bid, giving a valuation of 14-15 times the company's operating profit or EBITDA. There is news that Future Ventures is also looking to sell its 28.3% stake in women's apparel brand Biba.