Lenders may convert part of Kishore Biyani's Future Retail debt into equity

RIL is in talks with banks for a possible takeover

Lenders to Kishore Biyani-led Future Retail (FRL) are considering converting part of its debt into equity before a possible sale to a rival. 

The final decision on the debt restructuring of the company could be taken within a month, as the company will be unable to service its debt once the moratorium on loan repayment ends in August-end, sources in the know said.

FRL’s debt as of February was Rs 7,241 crore (excluding acceptances on letters of credit), as against Rs 2,657 crore as of March 31, 2019, according to a Care Ratings statement.

Reliance Industries (RIL) has initiated talks