The Future group holds 51 per cent in the general insurance business, while the rest is owned by Italy's Generali group.
Future Supply Chain Solutions (FSC) is a third-party supply chain and logistics service provider that offers warehousing facilities also.
Future Retail operates 1,500 retail stores that cover over 16 million square feet of retail space in 400 cities
The funds will be used mainly for replacing the company's existing high cost current or near term maturity debts requirements
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The move came after Future group firms defaulted on loans taken against the pledged shares of Future Retail in March, which also impacted its share price
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CARE Ratings has revised outlook on Future Lifestyle Fashions Ltd's long term loans from "positive" to "negative"
Referring to rumours that have been doing rounds and, specifically, one WhatsApp message portraying names of lenders and debt numbers for Future Group, Biyani said it is impacting its listed entities
The re-designation is based on the recommendations of the nomination and remuneration committee, the company said.
Amazon is also pushing its Amazon Now app aggressively to its Prime members, for which it has enlisted Big Bazaar as its delivery partner
Through this transaction, Amazon has managed to acquire around a 3.6 per cent stake in the Future group
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Biyani explained that physical retailers will need digital, while digital will need physical presence because of the costs related to acquiring customer and fulfilling orders
On the cards is a tie-up in online payments, something the two companies have been contemplating as part of the second phase of their partnership
Proceeds from the offering will be utilised to purchase store assets from Future Enterprises Ltd
The development comes after Amazon had agreed to buy 49% stake in Future Coupons Ltd
At present, Big Bazaar fulfills 300 to 1,000 orders per day per store for Amazon
Experts say the emphasis on eating out at 7-Eleven in India is linked in part to curbs on foreign direct investment in multi-brand retail in the country
We have to become a cost leader in whatever we do. And derive more from less, says Kishore Biyani