Future Retail is said to have received an acquisition interest from Reliance Industries, Adani Group and 13 other companies including Shalimar Corporation, Nalwa Steel & Power, United Biotech, WHSmith Travel, Capri Global Holdings, as per Reuters. The companies submitted an Expression of Interest (EOI) for Future Retail before its deadline earlier this month. As per Reuters, the final list of companies who submitted EOIs will be issued on November 20, post which they will be asked to submit a resolution plan by December 15. Once known as India’s second-largest retailer, Future Retail went into bankruptcy as it defaulted on loans and its creditors rejected a $3.4bn slump sale to Reliance.
Future Retail’s USD 5.6% 2025s were trading flat at 4 cents on the dollar.
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