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The <keyword id="6355809" type="General" weightage="20" keywordseo="NCLT" source="Orion">NCLT</keyword> has granted <keyword id="375475" type="General" weightage="20" keywordseo="Future-Retail" source="Orion">Future Retail</keyword> Ltd (FRL) an extension of 90 days for concluding the <keyword id="5961445" type="General" weightage="20" keywordseo="Corporate-Insolvency-Resolution-Process" source="Orion">Corporate Insolvency Resolution Process</keyword> (CIRP) of the company. Allowing FRL's plea the Mumbai bench of the National Company Law Tribunal (NCLT) has extended the deadline to July 15, 2023, for concluding the CIRP of FRL. "... NCLT on April 13, 2023, heard the application and granted the said exclusion of 90 days from CIRP of FRL and consequent extension for completion of CIRP till July 15, 2023," said a regulatory filing from the company. This order was pronounced orally by NCLT on April 13, 2023, and a "written order is awaited", FRL added. The CIRP was initiated against FRL by NCLT on July 20, 2022, following loan default. The Insolvency and Bankruptcy Code (IBC) time frame for resolution is 330 days, inclusive of the time taken for litigation. As per Section 12(1) of the Code, the CIRP shall be completed within a period of 180 days from the date of initiation. However, NCLT may grant a one-time extension of 90 days. The maximum time within which CIRP must be mandatorily completed, including any extension or litigation period, is 330 days. Last week, FRL informed that they have received an Expression of Interest (EoI) from 49 players, including <keyword id="10926" type="General" weightage="20" keywordseo="Reliance" source="Orion">Reliance</keyword> Retail, Jindal Power Ltd and <keyword id="6367820" type="General" weightage="20" keywordseo="Adani-Group" source="Orion">Adani Group</keyword> for acquiring the assets of FRL. On March 23, 2023, the resolution professional (RP) of FRL invited new expressions of interest, where prospective buyers can bid for the debt-ridden firm "as a going concern or individual cluster or a combination of clusters of its assets", as it failed to attract a resolution plan in over four months. Earlier, it had received EoI and finalised 11 prospective bidders, including Reliance and April Moon Retail, but could not get a resolution plan despite two extensions in the deadline for submissions. The Committee of Creditors had provided two options in the EoI, for which the last date for submission was April 7, 2023. In the first option, the Prospective Resolution Applicant (PRA) could bid for the acquisition of Future Retail as a whole, including its shareholding interest in its subsidiaries. While under the second option, Future Retail's business has been distributed in five clusters diving business, in which PRAs can bid for "any individual cluster or any combination of clusters." As per the invitation, FRL currently has access to 302 leased retail stores spread across 23 states and Union Territories, consisting of 30 large format stores such as <keyword id="6357823" type="General" weightage="20" keywordseo="Big-Bazaar" source="Orion">Big Bazaar</keyword> and <keyword id="17144190" type="General" weightage="20" keywordseo="FBB-stores" source="Orion">FBB stores</keyword> and 272 small format stores. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/even-mild-covid-infection-can-cause-sudden-hearing-loss-study/articleshow/99488945.cms">Even mild Covid infection can cause sudden hearing loss: Study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/pfizers-new-bivalent-mrna-covid-booster-vax-highly-effective-lancet/articleshow/99488979.cms">Pfizer's new bivalent mRNA Covid booster vax highly effective: Lancet</a>

NCLT grants 90 days extension to Future Retail for concluding insolvency

<keyword id="44950" type="PERSON" weightage="20" keywordseo="Kishore-Biyani">Kishore Biyani</keyword> is helping in easing cash crunch inconvenience and now <keyword id="6357823" type="COMPANY" weightage="100" keywordseo="Big-Bazaar">Big Bazaar</keyword> outlets will be dispensing Rs 2000 cash. 
 
Yes, you can withdraw cash up to Rs 2,000 by using debit cards at all its stores from November 24. 
 
Biyani-led Future Retail said the service will be available across 258 Big Bazaar and fbb stores in over 115 cities and towns across the country. State Bank of India has helped Big Bazaar activate this facility through the banks Cash at <keyword id="88570" type="ORGANIZATION" weightage="20" keywordseo="POS">POS</keyword> machines. 
 "We are trying hard to ease any difficulties faced by customers due to the <keyword id="3315394" type="UNKNOWN" weightage="20" keywordseo="demonetisation">demonetisation</keyword> of some currency notes and support the governments initiative in meeting its objective," said Kishore Biyani, Chairman, Future Retail, said. 
 
The government recently allowed the withdrawal of cash of up to a limit of Rs 2,000 by swiping debit cards at select petrol pumps using point-of-sale transactions (POS) machines.

You can withdraw Rs 2,000 cash at Big Bazaar stores from Nov 24

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<ul><li>Mukesh Ambani-led Reliance Industries has finally called off the ₹24,713 crore deal to buy retail assets of the <keyword id="44949" type="General" weightage="20" keywordseo="future-group" source="Orion">Future Group</keyword> as the creditors did not approve of it.</li><li>Even though Reliance Industries has proposed to take over the ₹12,000 crore debt of <keyword id="375475" type="General" weightage="20" keywordseo="future-retail" source="Orion">Future Retail</keyword>, the banks were not convinced.</li><li>Business Insider spoke to experts on how Future’s future could turn out to be. Here are three possible scenarios.</li></ul>After making a big hullabaloo for over 18 months, Mukesh Ambani-led Reliance Industries has finally called off the ₹24,713 crore deal to buy retail assets of the Future Group. This move could potentially lead the Kishore Biyani-led Future Retail into bankruptcy. Even though Future Retail’s shareholders and unsecured creditors were in favour of the deal, secured creditors were the ones that raised red flags over it. A secured creditor is generally a bank or other asset-based lender that holds a fixed or floating charge over a business asset or assets. Some leading banks that were secured creditors to Future Retail were not in favour of the deal due to the ambiguity on debt recovery, experts told Business Insider. Even though Reliance Industries has proposed to take over the ₹12,000 crore debt of Future Retail — out of the total <a href="https://economictimes.indiatimes.com/industry/services/retail/after-deal-with-reliance-retail-collapses-future-lenders-likely-to-go-for-group-insolvency/articleshow/91060551.cms">₹14,090.6 crore</a> debt — the banks were not convinced how that will follow through especially when the deal is facing several legal hurdles raised by Amazon. The case has been ongoing in Indian courts as well as Singapore International Arbitration Centre (SIAC). <cmsannotation type="cmsannotation" annotationid="What’s next for Future Retail?" comment="subhead" text="What’s next for Future Retail?">What’s next for Future Retail?</cmsannotation> The creditors of Future Retail are now expected to take the Insolvency and Bankruptcy Code (IBC) route, and move the bankruptcy court for a resolution plan. The IBC was enacted by the Indian parliament in 2016 with the intention of bringing uniformity to India’s bankruptcy laws. The matter can be filed with the National Company Law Tribunal (NCLT). The process is likely to go up to a year and result in the auctioning of Future Retail’s assets, Anshuman Khanna, the founding directors of Valpro, told Business Insider. He also noted that NCLT proceedings could overwrite objections of Amazon. That one year from now to the auctioning process is going to be quite problematic for Future Retail, he added. The company’s senior management would be working on an ad hoc basis, the attrition rate among employees is more likely to increase and the company is going to have a financial turmoil in the time to come. Business Insider spoke to experts and analysts on how Future’s future could turn out to be. Here are three possible scenarios: <cmsannotation type="cmsannotation" annotationid="Scenario One: A new buyer comes to the rescue" comment="subhead" text="Scenario One: A new buyer comes to the rescue">Scenario One: A new buyer comes to the rescue</cmsannotation> The first scenario is the one where a third buyer comes along and buys Future Retail at the auction. This is exactly what happened in the case of Jet Airways. “To draw a parallel, if you take an example of Jet Airways that went for NCLT and then ultimately got bought by some other person. During the period of NCLT, its operations were badly affected to the point of standstill and after the <a href="https://www.businessinsider.in/business/news/meet-sanjiv-kapoor-the-new-ceo-of-jet-airways-2-0/slidelist/89987676.cms#:~:text=Sanjiv%20Kapoor%20has%20been%20appointed,CEO)%20of%20Jet%20Airways%202.0.">new owner comes in they will try to revive it</a>,” Khanna added. However, this may not bring much benefit to the minority shareholders as their shareholding in the company becomes negligible once the new owner issues more shares, Khanna added. Plus the value of Future Retail is likely to plummet even further due to reduction of assets and the problems it is likely to face in the near future. For the time being, Future Retail is trying to revive its business by selling a few brands. “Future Lifestyle will raise an amount of ₹1000 crore by selling few brands and also is in talks with few banks for debt restructuring .The plan here is to monetise the assets so that it can continue with its business and generate cash flows to sustain in short term till IBC proceedings are conducted by NCLT,” Manoj Dalmia, founder and director of Proficient Equities, told Business Insider. <cmsannotation type="cmsannotation" annotationid="Scenario Two: Reliance Industries reappears later" comment="subhead" text="Scenario Two: Reliance Industries reappears later">Scenario Two: Reliance Industries reappears later</cmsannotation> Experts have emphasised that there is still a possibility that Reliance Industries may make a backdoor entry to acquire the retail assets of Future Retails during the insolvency proceedings. That way the company would be able to acquire the same assets at a lower cost. Future Retail already allowed Reliance Retail to take over 946 stores — belonging to Big Bazaar, Fashion at Big Bazaar (FBB), Easyday, Heritage store and more — earlier in January in order to accelerate the deal with Reliance one way or another. Future Retail simply stopped paying the rent to terminate their lease, and allowed Reliance Retail to take over these properties. “Despite calling off the deal with Future Retail, Reliance Industries still walks away with 947 small and large format stores,” Dalmia told Business Insider. Khanna emphasised that the backdoor deal cracked in January 2022 has now led to a loss for the company, shareholders as well as the creditors of the company. He noted that Future Retail does have some stores and brands, but their worth is a “question mark”. <cmsannotation type="cmsannotation" annotationid="Scenario Three: Amazon may chase Future Retail" comment="subhead" text="Scenario Three: Amazon may chase Future Retail">Scenario Three: Amazon may chase Future Retail</cmsannotation> Citing it as the best case scenario, Valpro’s founding director Khanna noted that Amazon along with few private shareholders may also pitch to acquire Future Retail. Now that Reliance Retail is out of the picture for now, Amazon should be able to bail it out. This will be the best scenario for creditors as well as shareholders, with both minority and majority shareholdings. “If it [case] goes to NCLT someone else will take it over and minority shareholders will get nothing. Even the lenders will have to take a haircut on their loan amount,” he said. He noted that if Amazon invests in the company on an ongoing basis, no one will have to take any more loss. Any which way “the merit will go to the banks which have lended money to Future Retail, any acquisition done through proper process will at least help the banks recover about 10% of assets instead of entirely defaulting in payments,” Dalmia added. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/tech/enterprise/news/twitterati-go-crazy-with-memes-as-elon-musk-buys-twitter/articleshow/91089482.cms">Twitterati go crazy with memes as Elon Musk buys Twitter </a><a href="https://www.businessinsider.in/stock-market/news/bank-of-india-lemon-tree-eveready-industries-among-stocks-to-watch-out-for-on-april-26/slidelist/91088389.cms" data-type="tilCustomLink">Bank of India, Lemon Tree, Eveready Industries among stocks to watch out for on April 26</a> <a href="https://www.businessinsider.in/tech/news/twitter-ceo-parag-agrawal-will-reportedly-get-42-million-if-he-is-terminated-after-elon-musk-acquires-the-company/articleshow/91089581.cms" data-type="tilCustomLink">Twitter CEO Parag Agrawal will reportedly get $42 million if he is terminated after Elon Musk acquires the company</a>

The future of Future and three probable scenarios

<ul><li>The answer lies in <keyword id="44950" type="PERSON" weightage="20" keywordseo="Kishore-Biyani">Kishore Biyani</keyword>’s stronghold in two sectors – grocery and fashion.</li><li>The food and grocery and fashion account for a high margin, that Ambani doesn’t want to miss.</li><li>On late Saturday evening, <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> acquired <keyword id="375475" type="COMPANY" weightage="20" keywordseo="Future-Retail">Future Retail</keyword> for ₹24,731 crore. </li></ul><keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Retail has almost 12,000 stores under its wing, with an annual revenue of over ₹1.6 lakh crore, so why then did it buy out Kishore Biyani’s Future Retail which has just about 1500 stores and debt over $2 billion? The answer lies in Biyani’s stronghold in two sectors – grocery and fashion. With grocery, Future Group has managed to create a name in the market as month after month families go out to buy their ration from the nearest Big Bazaar or Easyday store. In fashion too, Future group’s lifestyle vertical had made the mark. The food, grocery and fashion segments offer high margin, that Ambani doesn’t want to miss.. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Segment </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brands </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Margin (Source: BOB Capital Markets) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Food and Grocery </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Fresh, Reliance Smart and Reliance Market </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer electronics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Digital Jio stores </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.2% 2.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fashion and lifestyle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Trends, Project Eve, Reliance Footwear, Reliance Jewels and AJIO.com. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24% </td></tr></tbody></table> The need to win <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> with his deep pockets has built stores in the length and breadth of the country but most of the money (61%) comes in through consumer electronics. Grocery currently accounts for just 8% of Reliance Retail’s revenue. <div type="image" title="reliance revenue chart." msid="77843992" hostid="261"></div> But while consumer electronics ranks high with revenue, fashion and grocery segments are growing faster for Reliance. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue (FY20) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Y-o-Y growth </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Electronics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹44,625 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fashion and Lifestyle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13,552 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grocery </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹34,601 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">48% </td></tr></tbody></table> Grocery has become appealing for Ambani. Currently, food and grocery segment is pegged at $545 billion and in the next five years, it is expected to hit $850 billion – and Ambani wants the major share. According to a <a href="https://www.financialexpress.com/industry/rils-jiomart-to-sell-half-of-all-online-grocery-in-india-facebook-to-help-put-mukesh-ambani-on-top-goldman/2036073/">Goldman Sachs report,</a> Ambani’s e-commerce bet JioMart is poised to sell half of all online grocery in India, which is expected to see 5 million orders every day by 2024. It also helps that global tech players like Facebook and Google have invested billions in Jio and backed Ambani’s digital plans. With the Future Retail acquisition, Ambani gets hold of large format stores like Big Bazaar, FoodHall, FBB (fashion) and small format stores like Easyday and WH Smith. Reliance Retail registers 640 million footfalls in a year (as of FY20), and the Future Retail acquisition will add to that with Biyani’s loyal customer base with 351 million footfalls – Big Bazaar alone saw annual footfalls of 244 million (as of FY19). SEE ALSO: <a href="https://www.businessinsider.in/retail/news/mukesh-ambani-reliance-retail-acquires-kishore-biyani-future-group-for-25000-crore-in-a-slump-sale/articleshow/77825144.cms">Reliance Retail acquires Kishore Biyani’s Future Group for ₹25,000 crore in a ‘slump sale’</a>

Here’s why Mukesh Ambani bought Future Retail even though Reliance is almost ten times bigger

New Delhi, Deb 13 () Kishore Biyani-led Future Retail Ltd on Thursday reported a 16.72 per cent decline in consolidated net profit at Rs 164.56 crore for the third quarter ended December. The company had reported a net profit of Rs 197.60 crore in October-December quarter a year ago, Future Retail said in a regulatory filing. Total income fell 3.07 per cent to Rs 5,208.89 crore during the quarter under review from Rs 5,374.12 crore in the corresponding quarter last year. Total expenses were 2.58 per cent lower at Rs 5,042.46 crore as compared with Rs 5,176.52 crore a year ago. Future Retail has a network of 1,500 stores in over 400 cities. Its hypermarket and supermarket business is led by Big Bazaar, Big Bazaar GEN NXT, HyperCity, Foodhall, fbb, Food Bazaar, Easyday Club and Heritage Fresh. Shares of Future Retail Ltd on Thursday closed 1.86 per cent higher at Rs 377.10 on the BSE. KRH RVK

Future Retail Q3 net profit down 16.7 pc to Rs 164.56 cr

<ul><li>The retail arm of <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> is set to raise $5.74 billion at a pre-money valuation of $57.4 billion.</li><li>And the first to bring money on the deck is <keyword id="330063" type="COMPANY" weightage="20" keywordseo="Silver-Lake">Silver Lake</keyword>. </li><li>The private equity firm which invested $1.3 billion for a 2% stake in Jio, is now back in talks with Ambani for a $1 billion investment in the retail arm.</li></ul>After raising over $20 billion for Jio platforms, <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> is ready with his next fundraising plan for <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword>. The retail arm of Reliance is set to raise $5.74 billion at a pre-money valuation of $57.4 billion, a source told Business Insider. And the first to bring money on the deck is Silver Lake. The private equity firm, which invested $1.3 billion (₹10,202.55 crore) for a 2% stake in Jio, is now back in talks with Ambani for a $1 billion investment, added the source. Reliance has not responded to Business Insider’s queries yet. Ambani in his speech during Reliance’s Annual General Meet had mentioned that talks are on with potential investors for investments in retail. And according to the source, only existing Jio investors are going to come on board as Reliance Retail investors to “further deepen the relationship”. Reliance Retail had recently acquired Kishore Biyani’s Future Retail for ₹25,000 crore ($3.4 billion). Reliance Retail will now own all of the Future Enterprises’ stores by way of a ‘slump sale’ – Big Bazaar, fbb, Foodhall, Easyday, Nilgiris, Central, and Brand Factory. The deal will also see Reliance take over Future’s logistics and warehouse. And Ambani’s plans to bring investors on board is also to fuel the expansion plans he has for the retail venture. Late last year, Ambani’s e-commerce venture JioMart had begun operations, and during the lockdown, it scaled its presence to 200 cities and at its peak, clocked 400,000 orders in a day. According to a <a href="https://www.financialexpress.com/industry/rils-jiomart-to-sell-half-of-all-online-grocery-in-india-facebook-to-help-put-mukesh-ambani-on-top-goldman/2036073/">Goldman Sachs report,</a> Ambani’s e-commerce bet JioMart is poised to sell half of all online grocery in India, which is expected to see 5 million orders every day by 2024. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-may-need-up-to-18800-crore-in-next-two-years-and-tariff-hikes-to-survive-says-a-new-report/articleshow/77923943.cms">Vodafone Idea may need up to ₹18,800 crore in next two years and tariff hikes to survive, says a new report</a> <a href="https://www.businessinsider.in/retail/news/ambani-vs-damani-indias-635-billion-retail-ring-will-see-the-countrys-two-richest-men-battle-with-different-strategies/articleshow/77846555.cms">Ambani vs Damani ⁠— India’s $635 billion retail ring will see the country’s two richest men⁠ battle with different strategies</a>

Mukesh Ambani’s plan for Reliance Retail’s $5.7 billion fund raise – Here’s what we know so far

<ul><li>Despite the Coronavirus fear reigning supreme in a lot of people's minds and the economic slowdown, Indian brands’ excitement for Holi remains unshaken. </li><li>Leaders of different categories like Surf Excel, Facebook, Nykaa, Fanta, and Google to name a few, came forward to celebrate Holi in newer ways this year. </li></ul>Holi brings with it a yearning for home, for spending time with your loved ones and of course, memories of simpler times when the day would not be complete without gulaal and water balloons. It is not just about the colours, it is also about being with your loved ones, forgetting your differences and celebrating a day of similarities together. As the famous song from Sholay goes ‘All unite on Holi.’ Brands also do not leave any stone unturned to remind their consumers that they are a part of their big family. Whether it is about celebrating the happiness around our country, washing away old stains of differences, or spreading social awareness, brands have touched different hues of India this time, too. They have put their best foot forward and reminded the country that Holi is a festival of neutrality and positivity, which breaks the cultural differences. With Coronavirus’ fear mounting in India, not many are in the mood to celebrate. The excitement that this joyous festival brings has diminished. However, many brands have stepped up to remind consumers to be happy, prioritise their safety, celebrate Holi without water or by tapping into live streams. Here are a few campaigns that stood out: Surf Excel’s #RangAccheHain This time, Surf Excel aims to resolve the family clashes and encourages us to see the world through the eyes of little kids. Differences start clouding our vision as we grow older. This Holi, Surf Excel’s #RangAccheHain celebrates this spirit of togetherness and reminds us how a heart full of goodness and a fist full of colours can bring us closer. 
 
 <div type="Youtube" id="ImojBhmmhSA" title="Surf Excel Holi 2020 | #RangAchheHain" thumbUrl="https://i.ytimg.com/vi/ImojBhmmhSA/mqdefault.jpg"></div>





 Nykaa’s #ColorMeFree Nykaa celebrated International Women’s Day and Holi together by encouraging women of all colours to embrace themselves. "Itni saavli hai - shaadi kaisi hogi?" "She's so pretty, for a dark girl." "Dhoop me mat raho, kaali ho jaaogi." We've all experienced these prejudices in our lives. Alas, more often that not, from our families and friends. While half of our population is darker-skinned than the rest, the unhealthy fair-skin obsession in India is real and damaging. This is what Nykaa and rapper Dee MC of Gully Boy fame mirror together in a powerful video called 'Rang.' 

 
 <div type="Youtube" id="siTfcHQ888Y" title="Rang ft. Dee MC | Official Music Video | Celebrating Women of Colour | Women's Day | Nykaa" thumbUrl="https://i.ytimg.com/vi/siTfcHQ888Y/mqdefault.jpg"></div>





 Google’s Colourful Digital Activity Google has helped people sitting behind computer screens on Holi to break the monotony and smile together. Google’s latest Easter Egg lets you go wild, colour your screens into different hues and unleash the kid inside you who loved using Paint on your desktops. 
	
	<div type="twitter" handle="GoogleIndia" handlename="Google India" image="http://pbs.twimg.com/profile_images/1046660453970202625/q_urJHzt_normal.jpg" favoritecount="834" retweetcount="158" status="🔴Step 1: Go to the Google search app. 🟣Step 2: Type ‘Holi’. 🟢Step 3: Tap on the coloured powder bowls. 🔵Step 4: Sta… https://t.co/cSyV2ogdP1" createdat="1583737078000" id="1236909075494916098"></div>





 Facebook’s More Together Facebook’s ‘More Together’ showcases how people across the country can do more by coming together, harnessing the power of their connections on the platform. The campaign marks many firsts for the company. India is the first country in the Asia Pacific region where such a campaign is being rolled out. It is also the first time Facebook has rolled out a high decibel campaign of this stature in India. It is themed around Holi and personifies the ‘More Together’ campaign, as it shows young people across geographies sharing the festive spirit, using the power of their connections built on the Facebook app. 
 
 <div type="Youtube" id="1PjfIIFEf_M" title="Facebook: 'Holi' - More Together" thumbUrl="https://i.ytimg.com/vi/1PjfIIFEf_M/mqdefault.jpg"></div>





 Livpure’s #BinaPaaniHoliManani Playing Holi with water isn't so much fun when it causes so much water waste. Livpure aims to put an end to this wasteful aspect of one of the most loved festivals of India. Their new Holi campaign #BinaPaaniHoliManani seeks to create awareness around the rampant use of water balloons, which contributes greatly to water wastage during Holi. The digital film uses kids, who face the major brunt of this problem, to make a statement against using water balloons. 
 
 <div type="Youtube" id="ocy6fGHJbBQ" title="#BinaPaaniHoliManaani - Celebrating Holi with Livpure" thumbUrl="https://i.ytimg.com/vi/ocy6fGHJbBQ/mqdefault.jpg"></div>





 Fbb’s #BuraNaKhelo fbb is voicing a strong point of view on the occasion of Holi and Women’s Day to stand-up against the bad-touch many women experience during this festival. Voicing out every women’s opinion, fbb and DDB Mudra Group, have created a film featuring Mithila Palker narrating the inner feelings of all women. The campaign urges men and women to join hands with Mithila and create awareness to ensure that women are respected and made to feel safe in all circumstances. fbb is also giving out stickers at its stores to all its customers to help create more awareness about this initiative. 
 
 <div type="Youtube" id="tIyzxPPj3gM" title="#BuraNaKhelo" thumbUrl="https://i.ytimg.com/vi/tIyzxPPj3gM/mqdefault.jpg"></div>





 MP Birla Cement’s #HappyHoli Based on a poem by noted radio presenter Neelesh Mishra that narrates a spouse’s longing for the presence of their significant other, Birla Cement’s film plays allegorical homage to the love and longing that Krishna bore for Radha. The narrative is at once playful and passionate, describing the many festivities that the celebration of Holi entails interspersed with the yearning of a wife to see her returning husband. Filled with several realistic interactions that are typical to Holi, the underlying message comes through subtly but surely: just as the gulaal colours our clothes and faces, it is those who are dear to us that colour our lives. Every individual in our family and circles adds a different hue to our journeys, some dark and some light, but it is these relationships that build us and make us who we are. They instill in us strength, integrity and stability, which are qualities that MP Birla Cement also aspires to possess. 
 
 <div type="Youtube" id="1eBvontEkzE" title="#HappyHoli!" thumbUrl="https://i.ytimg.com/vi/1eBvontEkzE/mqdefault.jpg"></div>





 Fanta’s #NoBahanaHoli ‘Khelo Fanta Wali #NoBahanaHoli” campaign, in a playful manner, reiterates the brand’s core promise of being the best companion for uninhibited playful fun this Holi. The campaign reinforces how Fanta’s bold orangey taste helps teens to unlock their playful selves, enabling them to shed their inhibitions. Teens today seem to face a lot of peer pressure and as a result go through painstaking effort to protect their curated personas, which can get in the way of maximising their enjoyment during festivals like Holi. Fanta reminds teens that its okay to let fun just be fun and that there's nothing wrong in just enjoying the moment to the fullest. In the two videos, Fanta’s brand ambassador Sara Ali Khan invites teens to shed their excuses and play their #NoBahanaHoli. 
 
 <div type="Youtube" id="Cujs3uYGFOg" title="FANTA_NO_BAHANA_SELFIE_18sec-2.mov" thumbUrl="https://i.ytimg.com/vi/Cujs3uYGFOg/mqdefault.jpg"></div>





 Max Fashion’s #MaxWaliApnoHoli Max Fashion’s campaign spins around how colours of Max bring people together during Holi, irrespective of whether they like playing with colours or not. Capturing the affectionate moments between siblings, the campaign revolves around a family of five rejoicing in the celebrations of Holi. The film focuses on the youngest member of the family who is running away from his sisters with a fear of getting coloured by them. A colourful twist is further added to their playful bond when the sisters gift their brother trendy outfits instead of soaking him in multi-colours. Through this film, Max celebrates the true spirit of Holi by celebrating togetherness and spreading happiness with their stance – #HoliApnoWali. The film has been conceptualized by Lighstream, the branded content studio owned by Rainshine Entertainment. 
 
 <div type="Youtube" id="qe2oCk1cd9s" title="#MaxHoliApnoWali" thumbUrl="https://i.ytimg.com/vi/qe2oCk1cd9s/mqdefault.jpg"></div>

Brands celebrate different hues of India this Holi

<ul><li><keyword id="44950" type="PERSON" weightage="20" keywordseo="Kishore-Biyani">Kishore Biyani</keyword> gives up his retail empire to <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> – says its now in ‘stronger hands’</li><li>The Mukesh Ambani-owned company will pay off the debts of <keyword id="44949" type="CITY" weightage="20" keywordseo="Future-group">Future Group</keyword> and pay the remaining to Biyani in cash.</li><li>Aside from Future’s 1500 retail stores, Reliance will also get control of the logistics and warehousing business.</li></ul>After months of wait, the cat is finally out of the bag. Mukesh Ambani has bought Kishore Biyani’s <keyword id="375475" type="COMPANY" weightage="20" keywordseo="Future-Retail">Future Retail</keyword> for <a href="https://www.timesnownews.com/business-economy/companies/article/reliance-retail-buys-kishore-biyanis-future-retail-for-rs-24713-crore/644685" data-type="tilCustomLink">₹24,713 crore. </a> With the acquisition, Future Retail, Future Lifestyle Fashions, Future Consumer, Future Supply Chains and Future Market Networks will merge into Future Enterprises Limited (FEL). <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> will now own all of Future Enterprises’ stores by way of a ‘slump sale’ – <keyword id="6357823" type="UNKNOWN" weightage="20" keywordseo="big-bazaar">Big Bazaar</keyword>, fbb, Foodhall, Easyday, Nilgiris, Central and Brand Factory. The deal will also see Reliance take over Future’s logistics and warehouse. <div type="image" title="future retail share ." msid="77825129" hostid="261"></div> Reliance will now take over the borrowings and liabilities of Biyani and will “discharge the balance consideration by way of cash”. “As a result of this reorganisation and transaction, Future Group will achieve a holistic solution to the challenges that have been caused by Covid and the macro economic environment. This transaction takes into account the interest of all its stakeholders including lenders, shareholders, creditors, suppliers and employees giving continuity to all its businesses”, said Kishore Biyani, Group CEO, Future Group “We are pleased that our strong retail franchise and brands, that we have created over time, are going in stronger hands and will continue to grow and delight Indian shoppers”, added Kishore Biyani. According to Reliance's official statement, the company also proposes to invest (a)₹1,200 crore in the preferential issue of equity shares of FEL to acquire 6.09 % of post-merger equity; and (b)₹400 crore in a preferential issue of equity warrants which, upon conversion and payment of balance 75% of the issue price, will result in RRFLL acquiring further 7.05% of FEL. Here’s a look at the market cap of all Future Group listed companies as of market close on August 28, 2020. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Enterprises </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹998 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,333.29 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Supply </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹662.86 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Lifestyle Fashions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2927.5 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Consumer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2205.43 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Market Networks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹153.36 crore </td></tr></tbody></table> The group has debts of over $2 billion. And while Biyani and his family hold a 33.5% stake in Future Group, almost all of it has been pledged to lenders. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Percentage of pledged stake </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Lifestyle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">99.78% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Supply (FSCL) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">97.62% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Consumer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">92.97% </td></tr></tbody></table> "With this transaction, we are pleased to provide a home to the renowned formats and brands of Future Group as well as preserve its business ecosystem, which have played an important role in the evolution of modern retail in India. We hope to continue the growth momentum of the retail industry with our unique model of active collaboration with small merchants and kiranas as well as large consumer brands. We are committed to continue providing value to our consumers across the country," said Isha Ambani, Director, Reliance Retail Ventures Limited in a statement. Reliance said that the acquisition will accelerate providing support to millions of small merchants in increasing their competitiveness and enhance their income during these challenging times. SEE ALSO: <a href="https://www.businessinsider.in/business/news/future-retail-promoter-kishore-biyani-net-worth-falls-sharply-as-debt-rises/articleshow/75861065.cms">Once India’s ‘retail king’, Future Retail promoter Kishore Biyani is straddling high debt, coronavirus and negative ratings⁠⁠— and nearly his entire stake is already pledged</a> <a href="https://www.businessinsider.in/india/news/unlock-4-guidelines-are-here-metro-to-resume-services-social-gatherings-of-100-allowed-schools-and-colleges-to-stay-shut/articleshow/77824582.cms">Unlock 4.0 guidelines are here – Metro to resume services, social gatherings of 100 allowed, schools and colleges to stay shut</a>

Reliance Retail acquires Kishore Biyani’s Future Group for ₹25,000 crore in a ‘slump sale’

<ul><li>India’s largest retailer, <keyword id="44949" type="COMPANY" weightage="20" keywordseo="Future-group">Future Group</keyword> is set to scale up its share in laundry market with new liquid and powder detergent brands. </li><li>The move is set to cut shelf space by a third and hit <keyword id="6365619" type="COMPANY" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword> and <keyword id="316422" type="DOMAIN" weightage="20" keywordseo="Procter">Procter</keyword> &amp; Gamble’s market share. </li><li>Future Group owner <keyword id="44950" type="PERSON" weightage="20" keywordseo="Kishore-Biyani">Kishore Biyani</keyword> announced his company’s new plans. </li></ul>India’s largest retailer, Future Group is planning to scale up its share in the laundry market with its own line of liquid detergents and powders. The Founder of the group, Kishore Biyani said that he wants to take on giants like Hindustan Unilever and Procter &amp; Gamble (P&amp;G) by cutting their shelf space by a third in the segment, says an <a href="https://economictimes.indiatimes.com/industry/services/retail/kishore-biyani-sees-bright-future-in-own-brands/articleshow/70166924.cms?from=mdr">Economic Times</a> report. The Group’s Future Consumer (FCL), the consumer arm of the group which runs <keyword id="6357823" type="COMPANY" weightage="20" keywordseo="big-bazaar">Big Bazaar</keyword> stores, already launched its own liquid detergent brand, Voom. It soon plans to come up with a powder format of it, in two weeks. On the Shelf Biyani wants to gain disproportionate share in the market, building on its vast retail presence. “Consumers will finally decide which brands to pick but we have to push our own brands on shelves too,” Biyani told ET. The Future Group operates around 1,500 stores across supermarket chains like Big Bazar, Easyday, <keyword id="162215" type="COMPANY" weightage="20" keywordseo="Hypercity">HyperCity</keyword>, Easyday and Nilgiris. Together, they account for around 5% of the HUL and P&amp;G’s annual sales worth ₹4,000 crores. FCL is leaving no stone unturned to get its brands into the market. It is planning to stock its new laundry brand Voom across fashion stores too owned by the group like FBB, <keyword id="370284" type="COMPANY" weightage="20" keywordseo="Brand-Factory">Brand Factory</keyword> and Central stores. Ambitious targets Laundry is the biggest market category for both HUL and P&amp;G. The largest segment in the home and personal care space is worth ₹24,000 crore. HUL and P&amp;G have flagship brands like Surf, Rin, Ariel and Tide, which control more than half of the market. But, Future has set ambitious targets to get 70% of sales from their own brands in the next few, said the ET report. Laundry is a big part of this grand plan. Biyani restructured his retail company into a fast moving consumer goods company (FMCG) company, nearly a decade back. Future Consumer has its own brands and private labels. FCL already has a 20% share in the biscuit segment. It is also the third largest player after household brands like <keyword id="6359432" type="DOMAIN" weightage="20" keywordseo="britannia">Britannia</keyword> and Parle. Within their own stores, FCL has a majority share in the body wash segment and also snacks.

Kishore Biyani’s Big Bazaar wants to take Hindustan Unilever and Procter & Gamble to the cleaners, with its own laundry brands

No matter if ‘fashion has a new address’ on the internet, 95% of the retail market still depends on brick and mortar stores. According to Technopak, the offline retail is about $625 billion in 2017, of which, $60 billion counts for fashion, including home textiles and footwear. And this is the chance, <keyword id="49454" type="COMPANY" weightage="20" keywordseo="Biyani">Biyani</keyword>’s <keyword id="44949" type="CITY" weightage="100" keywordseo="Future-group">Future Group</keyword> is betting on. The online world of fashion, which is buoyed by the discount games, has taken a back step with strong contenders in the offline field including FBB (Fashion @ <keyword id="6357823" type="COMPANY" weightage="20" keywordseo="Big-Bazaar">Big Bazaar</keyword>), <keyword id="6359480" type="PERSON" weightage="20" keywordseo="Aditya-Birla">Aditya Birla</keyword>’s Pantaloons and Landmark’s Max. "If you have a fresh design, you don't need to sell it at a discount. Margin gets better and you get more buyers for fresh stock - this virtuous cycle has helped FBB become big over the last few years. "They have created FBB from scratch and leveraged the massive distribution network of Big Bazaar to sell it” <keyword id="1106836" type="PERSON" weightage="20" keywordseo="Abneesh-Roy">Abneesh Roy</keyword>, senior vice-president, institutional equities, Edelweiss Securities told the ET. Here’s how Biyani is rebuilding the retail empire While Pnataloons as a fashion brand was close to Biyani’s heart since its inception in <keyword id="6354925" type="COMPANY" weightage="20" keywordseo="Kolkata">Kolkata</keyword> 20 years back, he had to part ways in 2012 to meet some debt. While Pantaloons is flexing its muscle ever since it was handed over to Aditya Birla <keyword id="45472" type="ORGANIZATION" weightage="20" keywordseo="Group">Group</keyword>, Biyani found a strong footing with Future’s own private label brands along with the licensed ones. For that matter, with its 58 standalone outlets and 237 Big Bazaar stores, Future has licensed brands like Lee Cooper, Buffalo and Bare that have become synonymous with it. Going by the numbers, the Future Group has private labels that account for 95% of revenue of FBB, which comes under Future Retail, and 40% of Future Lifestyle Fashions (FLF), the fashion arm of the group. Future Group is zooming at a pace, which is well appreciated by its rivals. “Kishoreji is a fabric fashion garment man who started his innings way back in 1987 with a local brand. His fashion experience and understanding is unmatched,” <keyword id="162214" type="PERSON" weightage="20" keywordseo="Govind-Shrikhande">Govind Shrikhande</keyword>, MD of Shoppers Stop told Economic Times.

This is how Future Group is regaining the ‘King of Fashion’ in India status

In a move that is most likely the Indian organised retail sector’s largest M&amp;A deal, the Kishore Biyani-owned <keyword id="375475" type="COMPANY" weightage="80" keywordseo="Future-Retail">Future Retail</keyword> has agreed to merge its retail operations withBharti Retail to create one of India's biggest retail chains with more than 570 stores across the country. 
 
The largest consolidation move in the organised retail sector since about a decade ago, this move will also act as a hindrance to all online e-commerce companies that had so far been pounding down on the margins of the large brick and mortar retail companies. 
 As per the scheme of arrangement, the retail business of Future Retail will be demerged into <keyword id="117289" type="COMPANY" weightage="80" keywordseo="Bharti-Retail">Bharti Retail</keyword>. Meanwhile, the retail infrastructure business of Bharti Retail will be demerged into Future Retail. 
 The deal will result in two-listed companies which will operate in front-end and back-end operations. The front-end retail operation is proposed to be known as Future Retail while the second entity is proposed as <keyword id="2836018" type="UNKNOWN" weightage="80" keywordseo="Future-Enterprises">Future Enterprises</keyword>. It will host the infrastructure, investments and assets of both the companies. 
 <keyword id="44949" type="CITY" weightage="80" keywordseo="Future-group">Future Group</keyword> operates over 17 million square feet of retail space in different formats and categories across 166 Indian cities. Bharti Retail operates a network of over 200 '<keyword id="799608" type="ORGANIZATION" weightage="80" keywordseo="easyday">easyday</keyword>' stores in multiple formats across 114 cities with presence in key markets like Punjab, Haryana, National Capital Region, Western Uttar Pradesh, Uttarakhand and Bangalore. The combined entity will have over 570 retail stores in 243 cities with operational retail space of over 18.5 million square feet. It will operate 203 <keyword id="6357823" type="COMPANY" weightage="80" keywordseo="Big-Bazaar">Big Bazaar</keyword> and 'easyday' hypermarkets, 197 Food Bazaar and 'easyday' supermarkets, and 171 other stores comprising of Home Town, eZone, FBB and Foodhall. 
 
Bharti Retail will issue 1 fully paid-up equity share of Rs 2/- each, for every one fully paid-up equity share held in Future Retail. Meanwhile, Future Retail will issue 1 fully paid-up equity shares of Rs 2 each, for every one fully paid-up equity share held in Bharti Retail. "Bharti Retail's strengths and network compliment perfectly with that of Future Retail. It will bring us closer to millions of consumers and provide new opportunities for our supply partners. The operational efficiencies that can be derived from the <keyword id="42411" type="UNKNOWN" weightage="60" keywordseo="Merger">merger</keyword> will create significant value for our shareholders," said <keyword id="44950" type="PERSON" weightage="80" keywordseo="Kishore-Biyani">Kishore Biyani</keyword>, Founder and Group CEO, Future Group. 
 <keyword id="112509" type="CITY" weightage="80" keywordseo="Bharti-Group">Bharti Group</keyword> will hold about 10 per cent stake in both listed companies formed.

You Searched For "FBB stores" and got 12 results

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Brands celebrate different hues of India this Holi

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Reliance Retail acquires Kishore Biyani’s Future Group for ₹25,000 crore in a ‘slump sale’

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This is how Future Group is regaining the ‘King of Fashion’ in India status

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This one’s huge! Kishore Biyani’s Future Retail and Bharti Retail are merging. e-tailers, big reason to worry

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