Future Group firm Pantaloon Retail India (PRIL) will transfer its 53.67 per cent stake in Future Capital Holdings Ltd to Future Value Retail (FVRL).
Future Value Retail is a wholly-owned subsidiary of Pantaloon Retail (India) Ltd.
The proposed transfer will be completed within 90 days starting May 18,2012,Future Capital Holdings said in a BSE filing.
Around 3.4 crore shares would be transferred by PRIL to FVRL at a weighted average market price of Rs 133.89.
Shares of Future Capital Holdings Ltd closed at Rs 135.20 apiece,down 0.33 per cent from the previous close on the BSE.