March 2008
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Future Capital acquires 50.1% stake of Centrum Direct & Centrum Wealth

Future Capital Holdings announced today that the company acquired 50.1% stake of the paid up equity share capital of Centrum Direct and Centrum Wealth Managers, respectively, on Mar. 12, 2008.

Future Capital Holdings, a subsidiary of Pantaloon Retail India, is the financial services arm of the Future group registered as a non-banking financial company. In agreement with PRIL, the company provides financial products and services at malls, stores and retail outlets in India which are owned, controlled or managed by PRIL and its subsidiaries. It has an agreement with ICICI Bank for marketing and distributing credit cards offering loyalty points to customers and is finalizing corporate agency terms with group companies for general insurance products and life insurance products. Future Capital  Research conducts and publishes economic research to enhance value creation across other businesses of the company.

Source: My Iris

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