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Investigating social media rumours about financial abilities: Future Group

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

Press Trust of India  |  New Delhi 

Future Group introduced quick checkouts around Republic Day sales this year, asking customers to book time slots to avoid long queues
Shares of Future Retail on Friday fell by 1.66 per cent to Rs 290 apiece | File photo

Kishore Biyani-led on Friday said it is investigating the "rumours" regarding its financial abilities, a list of lenders and debt numbers circulating on that have led to hammering of stock prices of its listed entities.

Such "baseless rumours or messages" have apparently "impacted some of our listed company stocks in the last few days" and it may approach the "regulatory authorities for suitable action thereof", according to a regulatory filing by the group firm Future Retail.

"Any such rumours, messages on the fundamentals or our operational and financial abilities as a Group are totally baseless and false," said founder

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.

"Apart from the weak market conditions emanating from the coronavirus fear, these baseless rumours or messages have apparently impacted some of our listed company stocks in the past few days," he said in a message to its stakeholders.

"We are investigating into this and if required shall also be approaching the regulatory authorities for suitable action thereof," Biyani said.

has presence in the Indian retail and fashion sectors, with popular supermarket chains like Big Bazaar and Food Bazaar, and lifestyle stores such as Brand Factory and Central.

Shares of Future Retail on Friday fell by 1.66 per cent to Rs 290 apiece.

First Published: Fri, March 06 2020. 16:34 IST
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