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Kishore Biyani: Latest News

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14.10.2020 / 13:29

₹7000 cr revenue in first 3-4 months of covid pandemic: Biyani

NEW DELHI : Future Group founder Kishore Biyani on Wednesday said the homegrown retail major lost nearly ₹7,000 crore revenue in first three-four months of the COVID-19 pandemic due to closing of stores, which led him to sell his business to Reliance Industries.In August this year, billionaire Mukesh Ambani's Reliance Industries announced acquisition of retail and wholesale business and the logistics and warehousing business from the Future Group as going concerns on a slump sale basis for ₹24,713 crore."We got into a trap to be very honest with COVID-19.

Mukesh Ambani city New Delhi covid-19 pandemic

Future group appoints Ambit to seek buyers for logistics arm

MUMBAI: Future Group has launched a formal process, giving the mandate to investment bank Ambit, to seek buyers for the group's stake in its logistics business-- Future Supply Chain Solutions Ltd (FSC)--as founder Kishore Biyani looks to tackle his debt problems, said two aware of the development.

India city Mumbai information

Biyani's loan restructuring may come with an exit route charted by lenders

MUMBAi: Mumbai: Future group founder Kishore Biyani who is in the midst of a courtroom battle over pledged shares of the company may get a breather after several lenders gave a conditional nod to restructuring loans worth $600 million of promoter debt, said two people directly aware of the development.

city Mumbai covid-19 pandemic

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