Debt-ridden Future Group will exit from the insurance business in a time-bound manner and plans to sell its 25 per cent equity in Future Generali India Insurance Company Ltd (FGIICL) to its JV partner Generali for a cash consideration of Rs 1,252.96 crore, as part of its asset monetisation plans to pare debts.
Shares of Future Group of companies on Thursday bounced back, rallying as much as 14 per cent, a day after the Delhi High Court stayed the Amazon-Future arbitration.