The plan to merge the three Future group companies - Future Lifestyle, Future Supply Chain and Future Retail - is being worked out among banks, RIL and Future group, say sources
Once the merger is complete, Reliance Industries will be investing Rs 8,500 crore in the merged entity, resulting in the Mukesh Ambani-led conglomerate owning close to 50 per cent in it
RIL may pick up 50% in merged entity
Is there a predominant shift towards war strategy in business in India at present?
Retailing arm expected to net about Rs 2,000 cr from deal
However, consolidated total income of the company increased to Rs 1,424 crore, from Rs 1,353.31 crore in the year-ago period
Most group stocks witness steep year-to-date appreciation as rally is backed by fundamentals
Shares of Future Enterprises were trading 14.68 per cent higher at Rs 33.20 on the BSE
The firm, earlier known as Future Retail, had a profit of Rs 32 cr in the July-September quarter of previous fiscal
The company informed that 'figures are not comparable with the previous year/quarter' due to demerger of the retail business
The company is seeking approval of its shareholders in the upcoming AGM on August 29