Future picks up 70% in Godrej Aadhaar

The Future Group has picked up a 70% stake in Godrej Aadhaar, which provides agri-services in rural areas besides retailing. The stake has been bought at an undisclosed amount by Future Ventures, a Future Group company. Arvind Choudhury will be handling the business from Future Group, Future Group CEO Kishore Biyani said. “Aadhaar Retailing will have a board for joint management,” Godrej Agrovet’s CEO Balram Yadav said. Both Mr Biyani and Mr Balram declined to divulge the deal amount. “The tie-up will increase the penetration of our insurance business, micro-finance, credit business and sourcing of agri-products,” Mr Biyani said. With the joint venture, the company has now got entry into 62 new towns, apart from the existing retail network in 55 towns, he said. Godrej Aadhaar will continue with its agri-products business, Me Balram added.