BNP Paribas sells Rs 113-cr worth shares in Future Group

Financial services firm BNP Paribas Arbitrage on Thursday divested 3.62 percent stake in Future ConsumerĀ  Enterprises (FCEL) for Rs 113.40 crore in an open market transaction. According to the exchanges’ bulk deal data, BNP Paribas sold 6 crore shares or 3.62 percent stake in the Kishore Biyani-led company at a price of Rs 18.90 per share. As of September 2015, BNP Paribas held 9.27 crore shares or 5.60 percent stake in the Future Group firm. Meanwhile, Brussels-based Verilinvest hiked its stake in the company by purchasing 5.98 crore shares for Rs 113.20 crore. The consumer-focused investment fund held 4.79 crore shares or 2.89 percent stake in Future Consumer Enterprises (earlier known as Future Ventures India Ltd), as of September 2015. Future Group operates Big Bazaar, KB’s and EasyDay outlets across India. Shares of FCEL on Thursday soared 8.59 percent to settle at Rs 22.75 on BSE.

Future Consumer stock price On December 24, 2015, Future Consumer Enterprise closed at Rs 26.20, up Rs 0.35, or 1.35 percent. The 52-week high of the share was Rs 27.25 and the 52-week low was Rs 10.25. The latest book value of the company is Rs 5.58 per share. At current value, the price-to-book value of the company was 4.70.

[“source-moneycontrol”]