Kishore Biyani-led Future Group is picking up a 70% stake in Aadhaar, Godrej Group’s rural retailing initiative. Sources said Aadhaar, a part of Godrej Agrovet, will be spun off into a special purpose vehicle. Godrej Group will hold a 30% stake in the entity. The deal, likely to be done through Pantaloon Retail, is likely to be sealed in a fortnight. The Future Group will initially scale up Aadhaar on the lines of ITC’s e-choupal, as a supply-chain of commodities and agri-produce. Aadhaar may also become a distributor of the group’s financial products like consumer finance and insurance in the rural markets. Sources said the move makes sense for the Godrej Group which may not have been able to allocate the kind of investment required to make the rural retailing business commercially viable. For the Future Group, the move dovetails with its ambitious rural retailing plans. […]