Future Group is in speaks with a clutch of potential buyers including JPMorgan , KKR and Co to sell its fiscal services

Future Group is in speaks with a clutch of potential buyers including JPMorgan and KKR and Co to sell its fiscal services arm, Future Capital Holdings, sourcesmentioned.
The group, that has hired Morgan Stanley to operate the sale process, is also in speaks with Indian_business conglomerate_Piramal group, mentioned sources.
Future Capital,that has a market price of about Rs 985 cr, is a non-bank finance firm which makes consumer and mortgage loans.

The handling share holders of Future_Capital run India’s biggest retail chain by market price, Pantaloon Retail, and think about the finance unit a non-core business, based on a source.The Mumbai-based Future_Group owns 54 per cent of Future Capital, that has over Rs 3,000 cr ($ 653 mn) of assets.

The Piramal group’s Piramal_Healthcare unit mentioned in May it was coming into the financial services business. Piramal_Healthcare is equipped with a war chest after selling its domestic_formulations business for Rs 17,000 cr.

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