This share fell from Rs 66 to 80 paise, the investor’s 1 lakh reduced to Rs 1200 and now the company will go bankrupt
Shares of most of the Future group companies declined heavily. One of these shares is also of Future Enterprises. This company is also going through bankruptcy. The company’s shares crashed nearly 100 percent. In fact, in January 2008 the share price of the company was Rs 66 and now it has come down to 0.79 paise. Shares declined 4.82% on Friday. It is also the lowest level in 52 weeks. A year ago on the same day, the share price hit a 52-week high of Rs 8.85.
Company involved in insolvency process
Let us tell you that Kishore Biyani Future Enterprises is recently under bankruptcy proceedings. Thereafter the bidding process of the company will continue for recovery from lenders. On March 7, the Mumbai Bench of the National Court of Company Law ordered the commencement of the Corporate Restructuring and Liquidation Process (CIRP). NCLT has appointed a resolution expert to manage the affairs of the company. With the commencement of CIRP, the management of the company is now in resolution mode and the powers of the Board of Directors have been suspended.
99% loss of investors
Let’s say from 2008 to date, investors have lost 98%. During this time if someone invests Rs 1 lakh in these shares and holds this investment till now, then this amount will be only Rs 1,200.
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