Future back in reckoning

about 2 months ago
No Image

Financial daily, Mint, yesterday reported that Amazon is looking at preparing a bailout plan for Future Retail if the Singapore International Arbitration Centre (SIAC) rules against a planned takeover of the Indian retail chain by Reliance Industries.

SIAC is expected to give its final verdict in the matter later this month after holding several rounds of hearings since August last year. The report said that Amazon eventually plans to bring in more investors, including private equity funds, to participate in equity infusion in the Kishore Biyani-led group, which faces the bleak prospect of bankruptcy if the SIAC ruling goes against it.

Amazon’s funding proposal involves an infusion of about Rs.6,000 crore through a mix of equity and debt.

Following this news, not surprisingly, the entire Future group stocks are up among the top gainers, led by Future Consumer, Future Lifestyle and Future Retail.

Popular Comments

No comment posted for this article.