The board of directors of Future Retail Ltd on Thursday decided to structure a share-based employee benefit scheme with a ceiling limit of up to 2 per cent of the paid-up equity share capital of the company, computed as of the end of the previous financial year. The board also approved divestment of a part of investments in its subsidiary, Future Supply Chain Solutions Ltd, and authorised a committee to consider various options for a value up to ₹700 crore, such as offer for sale as part of initial public offering and sale to private equity/strategic investor. Shares of Future Retail closed at ₹115.2, down 5.4 per cent on the NSE.

Due to non-receipt of allotment money before February 12, the board of Garware Synthetics will now consider an allotment of 4.6 lakh convertible warrants and 4 lakh equity shares to the promoter at its next board meeting on February 16 (Monday). The board on Thursday was scheduled to allot the warrants and equity shares at ₹50 a share to promoters on a preferential basis. Shares of Garware Synthetics closed at ₹38.45, up 4.2 per cent on the BSE.

The board of directors of Radha Madhav Corporation has authorised Mitesh Agarwal, Managing Director and CEO, to showcase, negotiate, discuss, execute various documents, agreement, deeds, etc with Jindal Poly Films for sale of the company's Rudrapur unit. The deal will be, however, subject to approval from lenders, statutory regulators, boards and other authorities as required. Shares of Radhav Madhav Corporation gained 2 per cent at ₹40.55, while Jindal Poly Films shares slumped 7.8 per cent at ₹212.65 on the BSE.

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