As part of the deal announced on Saturday, Future Group will be selling its retail assets to Reliance Retail in a deal pegged at Rs 24,713 crore
Praveen Khandelwal, secretary general of Confederation of All India Traders said the deal will lead to monopoly and consequently unfair domination by the large player(s)
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The deal between the retail arm of RIL and Future Group has brought back focus on the related stocks. Here are the key levels track before you make an investment in these stocks
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The financial instruments of Future group have gone through multiple rating downgrades in recent months due to the delay in payments
Gets scale, massive presence, higher valuation of its retail business, and inherits the entire logistics and distribution chain
Biyani (59), who started his business in 1987 by launching Manz Wear which later adopted the brand name of Pantaloon, has agreed to hand over the control of his retail empire to relatively new entrant
Company's board to meet today on sale of retail arms to RIL
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A source said the board would also look at the proposal to merge three other listed entities of the Future group with FEL
Former Indian Oil Corp (IOC) chairman Sanjiv Singh has joined Reliance Industries Ltd as Group President for billionaire Mukesh Ambani-run firm's oil-to-chemicals business.
The promoters had decided to keep their salaries at the current level three years ago.
The oil producer is a JV partner with Indian state-run oil refiners to set up a mega refinery, and also plans to pick a stake in RIL's O2C business
Covid-19 has deeply impacted corporate earnings
As per a plan negotiated between Kishore Biyani, Indian lenders and RIL, banks will have to wait till RIL invests in Future Enterprises after three other group firms are merged into it