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Besides, FEL is also planning to sell its 33.3 per cent stake in its Life Insurance JV - Future Generali India Life Insurance Company Limited (FGILICL).
Debt-ridden Future Group firm Future Enterprises expects to raise around Rs 3,000 crore from selling its stake in the insurance business to pare debt
Earlier on Thursday, Future Enterprises Ltd completed the sale of its 25 per cent equity in Future Generali India Insurance Company Ltd (FGIICL) to joint venture partner Generali for Rs 1,266.07 crore, , future group, Insurance Business
Future Enterprises to raise Rs 3,000 cr from insurance business sale
However, Future Group's flagship firm Future Retail Ltd (FRL), which has nearly Rs 18,000 crore debt, is bound to face the corporate insolvency resolution process before NCLT.