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This is an archive article published on July 22, 2011

Future Ventures ups Amar Chitra stake

Future Ventures India said it has acquired additional shares from promoters of Amar Chitra Katha.

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Future Ventures India Ltd today said it has acquired additional 1,41,459 equity shares from promoters of Amar Chitra Katha Pvt Ltd ACKL representing 30 per cent share capital of the company.

With the latest acquisition,ACKL has become a subsidiary of Future Ventures India Ltd FVIL,which now holds 56 per cent,FVIL said in a filing to the Bombay Stock Exchange.

The company,however,did not disclose the financials involved. Last month FVIL had hiked its holding in Amar Chitra Katha to 26 per cent.

ACKL publishes a range of titles,including comics series 8216;Amar Chitra Katha8217;,monthly magazine 8216;Tinkle8217; and bi-monthly science magazine 8216;Brainwave8217;,targeted at under 15 years age group.

In a separate filing FVIL has said another group company Simpleton Investrade Pvt Ltd has acquired 4.32 per cent stake in FVIL from Future Corporate Resources Ltd.

The transfer of FVIL8217;s stake to Simpleton Investrade has happened as a result of merger of Future Corporate Resources with Simpleton Investrade.

FVIL8217;s scrips closed at Rs 9.65 per share,up 2.66 per cent compared to the previous close on the BSE.

 

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