Business Standard

Future Group stocks rally on report Co may merge subsidiaries; RIL adds 1%

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

On August 19, CARE Rating revised the company's Long-term-Term loan rating from CARE BB to CARE C
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On August 19, CARE Rating revised the company's Long-term-Term loan rating from CARE BB to CARE C

SI Reporter New Delhi
Future Group stocks such as Future Enterprises and Future Lifestyle were trading higher on Friday after a Business Standard report said that the board of Future Enterprises is likely to discuss on Saturday the proposal to merge other listed group entities with itself.

"Once the process is complete, Reliance Industries (RIL) will be investing Rs 8,500 crore in the merged entity by way of additional capital, resulting in the Mukesh Ambani-led conglomerate owning close to 50 per cent in it... The funds infused by Reliance will be used to repay the lenders," the report said. READ HERE

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First Published: Aug 21 2020 | 10:03 AM IST

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