Heritage Foods exits Future Retail; sells its entire holding for Rs 132 crore
NEW DELHI: Heritage Foods has sold its entire holding representing over 3 per cent stake in Kishore Biyani-led Future Retail for around Rs 132 crore in the open market to mainly repay its long term loans. “The company has disposed off its entire holdings/investment of 1,78,47,420 equity shares held in Future Retail. These shares were […]
Future Retail posts Q2 net loss of Rs 692 crore; net sales down 74%
NEW DELHI: Future Retail Ltd on Friday reported a consolidated net loss of Rs 692.36 crore for the second quarter ended on September 2020, hit by disruptions caused due to the COVID-19 pandemic. The company, whose promoter had announced Rs 24,713 crore deal to transfer the retail business to Reliance Industries owned Reliance Retail Ventures, […]
Amid battle with Amazon, Future Retail sees liquidation if RIL deal fails
NEW DELHI: As a Singapore arbitration court has temporarily halted the acquisition process of Future Group’s retail business by Reliance Retail, there has been speculation over what happens to Future Retail if the deal does not actually go through. Future Retail’s representative told the arbitration panel that if the deal with Reliance Retail fails, then […]
Future Retail repays $14 million interest to investors, averts default
NEW DELHI: Kishore Biyani-led Future Retail has averted a default as it repaid around $14 million (around Rs 100 crore) interest on foreign bonds to investors. The 30 day grace period for repaying the interest on ‘5.60 per cent Senior Secured Notes due 2025’ was to end on Monday. “Today, we are pleased to inform […]