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Future group to disinvest some stake in Future Generali life insurance

Future Group is already planning to sell out their stake in Future Generali Life Insurance Company. Future Group is a multi- format retail group that caters to the

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Last Updated - May 17, 2023
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Future Group is already planning to sell out their stake in Future Generali Life Insurance Company.

Future Group is a multi- format retail group that caters to the various needs to the customers. It includes the businesses in areas such as retail sectors like food, fashion, General Merchandise and Home, Finance sector like Consumer finance and Insurance sector, Service sector like supply chain and logistics etc. It employs more than 35,000 employees across the sectors. Future group has integrated the traditional market into modern day retail, forever transforming Indian retail. Started in 1987 with a small brand – Pantaloon, today after 25 years it has put the deep foot print across India and has achieved the landmark growth. It believes in the theory of simple ideas and retain value concept. It also makes every effort to delight the customers and tailoring store formats to changing life styles and adapting products and services to their desire.

According to the reliable sources it has been informed that the promoter of the Future Group Mr. Kishore Biyani has entered into a non – binding agreement with a Non Banking Financial Company (N.B.F.C) – Industrial Investment Trust Limited to disinvest its majority of stake in its Life Insurance business. The Future Group holds 76% of the stake in Future Generali Life Insurance Company while the remaining is held by Generali Life Insurance Company, an Italian based company.

Since the Company has entered into the non – binding agreement there is always an option available to the company to sell the business to other companies and the group is also close to selling its general insurance joint venture to L&T Financial Holdings. However, others state that there is no plan to sell off Future’s stake in Future Generali Life Insurance.

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