Future Market Networks (FMNL) is planning to construct, develop and sell integrated large-scale warehouses at Jhajjar in Haryana and Nagpur in Maharashtra aggregating to 1.3 million square feet.
Accordingly, FMNL has, along with Gati Realtors (SPY-I) and Future Retail Destination (SPY-2) (SPY I and 2 both are presently wholly owned subsidiaries of FMNL), entered into a strategic arrangement with ESR NAGPUR I and ESR DELHI 3 (investor SPY's) respectively.
The company shall dilute its holding in its SPY’s by way of sale of 51% of its investment to respective Investor SPY’s immediately upon execution of Transaction Documents. Upon completion of the Project and successful handover, FMNL shall exit from the respective SPY’s by way of sale of balance 49% of its investment in the respective SPYs.
Future Market Networks, formerly Agre Developers, is engaged in the business of providing retail infrastructure and infra logistics.
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