If Future group chooses to sell to a strategic investor, Biyani may have to give up control of the company he founded, the second person said. While Samara is eyeing a stake in Future Retail, a possible deal with Reliance could also involve the group’s apparel retail business Future Lifestyle Fashion Ltd, the person added. An email sent to Future Group remained unanswered. Amazon is also an existing investor in Future Retail, through its investment in promoter group company Future Coupons. On May 4, Icra downgraded Future Corporate Resources, a promoter group entity, to D, after it defaulted on coupon payments.

Source: Hindustan Times June 11, 2020 02:12 UTC