Business & Policy | News & Insights

Future Enterprises Invites Expressions of Interest for Sale of Assets

Published: December 29, 2023
Author: TEXTILE VALUE CHAIN

The resolution professional for Future Enterprises has announced the commencement of the sale process for certain company assets.

The assets up for sale can be divided into two categories. Under  category 1, the company offers stakes in its insurance ventures, including a 0.51% stake in Future Generali Indian Insurance Company, a 25.18% stake in Future Generali India Life Insurance Company, and significant stakes in Sprint Advisory Services and Shendra Advisory Services. Additionally, category two assets include a 39% stake each in Apollo Design and Apparel Parks and Goldmohur Design and Apparel Parks.

These assets are predominantly located in Maharashtra and Karnataka and boast substantial fixed assets. The company’s apparel manufacturing units have a collective capacity of 70,000 trousers and 60,000 shirts per month.

Interested parties have until January 16 to submit their EoIs, with the final list of prospective resolution applications set to be released on January 28. Resolution applicants must then file their plans by February 27.

Future Enterprises had incurred debts of over ₹16,000 crore,  leading to its insolvency and subsequent asset sale.

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