SEBI Approves Reliance-Future Group's Rs 24,000 Crore Retail Deal
The Securities and Exchange Board of India (SEBI), on Wednesday night, gave a go-ahead to Reliance Industries' Rs 24,713-crore deal to buy Future Group's retail assets. The Bombay Stock Exchange also granted its "no adverse observation" report to the Rs 24,713-crore deal, based on the approval granted by the market regulator.
In August 2020, Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries, had announced that it was acquiring the retail and wholesale business, logistics and warehousing business from the Future Group as going concerns for lumpsum aggregate consideration of Rs 24,713 crore.
Amazon had filed a petition before the Delhi High Court, seeking a stay on the Future-Reliance deal. However, the Delhi High Court had declined a plea of Future Retail to restrain Amazon from interfering in its deal with Reliance Retail on the basis of an interim order of Singapore International Arbitration Centre.
The Securities and Exchange Board of India (SEBI) has allowed the deal, with some riders. The market regulator said the litigation pending before the Delhi High Court and arbitration proceedings by the global e-commerce major Amazon contesting the deal should be specifically mentioned by Future Group while seeking approval from the shareholders and the National Company Law Tribunal. It has also held that SEBI's go-ahead on the draft scheme of arrangement would be subject to the outcome of these proceedings.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
