Moneycontrol Bureau
Multi-format retailer Future Retail shares started off first trade at Rs 153.40 on Monday against previous close of Rs 151.05 on the National Stock Exchange.
The stock is locked at 5 percent upper circuit at Rs 161.05.
The exchanges have fixed circuit limit of 5 percent for the stock as it is available for trading in T Group category.
Retail business of the Future Group has been merged with Bharti Retail and then changed the name to Future Retail.
Under the scheme of arrangement, the company was divided into Future Enterprises, which is a backend business, and Bharti Retail that is a fronted business.
Future Retail, the flagship company of Future Group, operates multiple retail formats in the hypermarket, supermarket and home segments through Big Bazzar, Easy Day, KB's, FBB, Food Bazzar, Foodhall, Home Town and ezone.
Accordingly, operations of these segments will pay lease rentals to backend entity Future Enterprises.
Promoters held 48.82 percent stake in the company, including Future Corporate Resources' 37.66 percent shareholding as of July 25. Bharti Retail has stake 9.2 percent stake and FIIs have 22.5 percent shareholding.
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