The Future Group is once again in the headlines, this time in connection with two pieces of bad news—a status quo order on its crucial deal with Mukesh Ambani-led Reliance Industries Ltd and a Securities and Exchange Board of India ban on its promoter Kishore Biyani accessing the capital markets for a year.
With Rs 30,000 crore in debt and 72% public shareholding, it is natural that anything that involves the group’s flagship company, Future Retail Ltd, has wide ramifications. What makes it worse for stakeholders is the uncertainty over what was touted as a done deal last August.
Here’s …
Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.
jayshree@mailtmc.com