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| Exchange Received Time 18/09/2018 15:00:30 Exchange Disseminated Time 18/09/2018 15:00:36 Time Taken 00:00:06 | Dear Sirs,
Ref: Scrip Code: BSE - 533296 and NSE - FMNL.
Sub: Corporate Announcement under Reg 30(7) of SEBI LODR - Completion of acquisition of Shares in terms of Share Purchase Agreement (SPA)
In continuation to the earlier disclosures dated May 22, 2017 and May 31, 2018, please note that the Company has completed the acquisition of 50% equity share capital of Future Retail Destination Limited (viz. 1,50,00,000 equity shares of Rs.10/- each) held by IL&FS Township and Urban Assets Limited (ITUAL) in terms of the Share Purchase Agreement entered into between the parties on May 31, 2017 and total consideration towards the acquisition was Rs 14,00,00,000 (Rupees Fourteen Crores Only).
Consequent to the completion of aforesaid acquisition, Future Retail Destination Limited (FRDL) became a Wholly Owned Subsidiary of the Company. FRDL is a special purpose vehicle company to set up an integrated large scale warehouse facility at Jhajjar, Haryana.
Kindly take the same on record.
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