Future Group sells 2.02 percent stake in Pantaloons

Future Corporate Resources, a part of Kishore Biyani-led Future Group, has sold 2.02 percent stake in its earlier group firm Pantaloons Fashion & Retail. With the stake sale, the company's holding in Pantaloons Fashion & Retail, now a part of the Aditya Birla group, has come down to 7.71 percent.

“Future Corporate Resources and persons acting in concert sold 18.71 lakh shares or 2.02 percent stake in Pantaloons through open market and inter se transfer through off market transaction,” the company said in a BSE filing. The shares were sold between July 13, 2015 and August 17, 2015, it added. As per information available on the BSE, Future Corporate Resources had 14 percent stake in Pantaloons as on June 30, 2015.

The revenue of Pantaloons increased 14 percent at Rs 439 crores backed by stores expansion and like-to-like growth of 4.2 percent. It posted an EBITDA of Rs 4 crore against a loss of Rs 4 crore reported last year. As a result of its continued focus on enriching product portfolio, the revenue share of its exclusive brands has increased from 52 percent to 55 percent.