Mukesh Ambani all set to buy Biyani’s Future Retail

TIL Desk/Business/Mumbai/ India’s biggest firm, Reliance Industries (RIL), is giving final touches to the acquisition of Future Retail (FRL). This will also involve Future Group’s grocery and logistics arms.

Bankers said the acquisition plan will not only include the flagship Future Retail, but other group companies – the logistics firm Future Supply Chain Solutions and Future Consumer.

“There will be a couple of mergers among Future Group companies and as part of the deal, RIL will go for an all-stock deal,” said a source in the know.

The share price of RIL shot up by 7.1 per cent on Tuesday, taking its total valuation to Rs 13.74 trillion, as the Ambani-owned firm finalised its plans with lenders to acquire the debt-hit company.