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| Exchange Received Time 05/10/2017 20:21:12 Exchange Disseminated Time 05/10/2017 20:21:19 Time Taken 00:00:07 | Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please be informed that the Board of Directors of the Company, at its meeting held today i.e. October 5, 2017, has approved sale of 77,158,778 equity shares of Rs. 10/- each, constituting 51.09% of the paid up share capital of Hypercity Retail (India) Ltd; (Hypercity / subsidiary company) to Future Retail Ltd; (Purchaser), subject to execution of binding definitive documents, receipt of necessary approval from the shareholders of the Company and such other regulatory/statutory approvals, as may be required.
The details as required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 with respect to sale of subsidiary company are given in Annexure A to this letter.
The Board Meeting of the Company commenced at 3.30 pm and concluded at 7.55 pm.
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