Arisaig India Fund Ltd has cut its stake in Future Consumer by 2% by selling 3.84 crore shares in the open market.
According to a BSE filing, Arisaig India Fund offloaded 3.84 crore shares, or 2% stake, on July 13. Based on the weighted average price of the stock at ₹11.63 per scrip on July 13, Arisaig India Fund’s stake sale would be for an estimated value of ₹44.65 crore.
Arisaig India Fund decreased its shareholding in the company from 5.16% to 3.16%.
Last week, Future Consumer Ltd reported a consolidated net loss of ₹175.46 crore for the quarter ended March 2020. The company had reported a net profit of ₹7.53 crore in the January-March period of the previous financial year. Its revenue from operations slipped 8.70% to ₹947.07 crore, against ₹1,037.37 crore earlier.
The company is engaged in the business of sourcing, manufacturing and marketing fast-moving consumer goods (FMCG) and processed food products.
Future Consumer’s shares were trading 3.10% higher at ₹11.65 apiece on the BSE during the day.
