Future Retail Ltd Company Summary

Future Retail Ltd Summary

Future Retail Limited (formerly known as Bharti Retail Limited) was incorporated on February 07, 2007. The Company changed its name to Future Retail Limited from its earlier name, viz. Bharti Retail Limited on May 28, 2016. The Company is engaged in the business of retailing of fashion, household and consumer products through departmental and neighbourhood stores under various formats across the country.Future Retail Ltd is the flagship company of Future Group, Indias retail pioneer catering to the entire Indian consumption space. Through multiple retail formats, the company connects a diverse and passionate community of Indian buyers, sellers and businesses. It operates multiple retail formats in both the hypermarket, supermarket and home segments of the Indian consumer market including: Big Bazaar, Easyday, Fashion at Big Bazaar, Foodhall, Home Town, Ezone, and many more. The Company has a pan India presence with 1,511 stores serving customers in nearly 428 cities through over 16.14 million square feet of total retail space for various formats of the Company. The Company gave effects to three Schemes of Arrangement in FY 2013-14. The Pantaloons Format Business was demerged to Peter England Fashions and Retail Limited now known as Pantaloons Fashion and Retail Limited (PFRL) as a going concern, in the PFRL effective from July 1, 2012. In terms of the said Scheme, 1 (One) fully paid Equity Share of Rs 10/- each of PFRL for every 5 Equity Shares of Rs 2/- each held in the Company was issued and 1 fully paid Equity Share of Rs 10 each of PFRL for every 5 Class B (Series 1) shares of Rs 2 each held in the Company was issued. The Composite Scheme of Arrangement and Amalgamation between Pantaloon Retail (India) Limited (now known as - Future Retail Limited) and Future Lifestyle Fashions Limited (FLFL) and Indus-League Clothing Limited and Lee Cooper (India) Limited and Future Ventures India Limited (now known as - Future Consumer Enterprise Limited) (FCEL) and their respective shareholders and creditors for demerger of respective fashion format business of the Company and FCEL was given effect on May 29, 2013. The Fashion Format Business got demerged and vested in FLFL. Accordingly, the shares of FLFL were issued to the shareholders of the Company on June 25, 2013 as per share entitlement ratio of 1 (One) fully paid Equity Share of Rs 2/-each of FLFL for every 3 Equity Shares &/or Class B (Series 1) Share of Rs 2/- each held in the Company. Through the Scheme of Amalgamation between the Company and Future Value Retail Limited, the Retail Scheme for merger of Future Value Retail Limited was made effective from February 11, 2014. Pursuant to the Retail Scheme, FVRL was merged and vested in the Company. In 2018-19, the Retail Business Undertaking of Hypercity Retail (India) Limited (HRIL) got demerged and vested with the Company and the Scheme of Arrangement was given effect on April 25, 2018. The Company in 2019 acquired the entire equity share capital of Travel News Services (India) Private Limited (TNSI) from its existing shareholders and it became a wholly owned subsidiary of the Company on May 11, 2018. In addition to this TNSI Retail Private Limited, a wholly owned subsidiary of TNSI and Welcome Retail Private Limited, a joint venture of TNSI in which TNSI holds 51% of the share capital also became step down subsidiaries of the Company effective from May 11, 2018. The Company acquired the retail business undertaking under the brand name Foodworld in 2019. It acquired the entire equity share capital of SHME Food Brands Private Limited from its existing shareholders and SHME became a wholly owned subsidiary of the Company on February 28, 2019. It added 21 new large stores during the year 2019. The Company further added 26 new large stores in year 2020. In 2020-21, the Company along with other Transferor Companies amalgamated with Future Enterprises Limited through a Composite Scheme of Arrangement . The Logistics & Warehousing Undertaking from Future Enterprises Limited as a going concern through slump sale was transferred to Reliance Retail Ventures Limited (RRVL); the Retail & Wholesale Undertaking from Future Enterprises Limited as a going concern through slump sale was transferred and vested to Reliance Retail and Fashion Lifestyle Limited, a wholly owned subsidiary of RRVL.