Business »  Topic »  Coronavirus scare: Kishore Biyani plans stake sale in Future Retail, insurance biz to tide over debt woes

Coronavirus scare: Kishore Biyani plans stake sale in Future Retail, insurance biz to tide over debt woes


MUMBAI: Debt at the holding company level, plunging share price of listed entities, and crashing sales due to the Corona virus scare, have forced Future Group founder Kishore Biyani to explore a significant stake dilution in Future Retail and a merger of insurance joint venture Future Generali with bigger, well capitalised players.

Earlier this week, Future Corporate Resources Private Ltd, Biyani's holding company, defaulted on it debt payments. This resulted in IDBI Trusteeship Services invoking pledged shares in Future Retail, causing Biyani's shareholding to falling by 8%. If his deals doesn't fructify or existing investors fail to ...


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