Once again, Reliance Industries is in the news, and this time it is aiming for a significant deal. It is said that Mukesh Ambani is now preparing to buy a stake in Kishore Biyani-led Future Group to strengthen its hold in the retail business. The report is also that the deal between the two companies is in its final phase. It’s noteworthy that Future Retail operates over 1,500 stores in India. It also owns several supermarket brands, including the budget department and grocery chain Big Bazaar.
If this deal gets finalized, Reliance will strengthen its position in the grocery, fashion, and grocery items all over India. The Reliance and Future group deal could merge Future Retail, Future Lifestyle Fashion, and Future Supply Chain Solutions, which will be owned by Mukesh Ambani. Instead, it would be correct to say that Mukesh Ambani is now going to buy Future Group. This deal will increase Mukesh Ambani’s stature and Reliance empowerment in India.
According to the media report, the two companies have signed terms and conditions have done agreements, and soon they can announce their deal. The deal is also exciting because Jeff Bezos’ company, Amazon, has a business partnership with Future Group since 2014. Last year, Amazon bought an indirect stake in Future Retail by investing in a promoter company. Recently Reliance has launched its platform Jio Mart, and now, with the contract, Reliance Industries can make its position in the grocery, fashion, and grocery market. Companies such as Amazon, Blackstone, and Premjinvest have significant shares in Future group that may get shares in RIL.
Mukesh Ambani’s Reliance Industries has been in the news every day during the Corona epidemic period. Within past few months, Reliance has achieved significant investment from global companies and sometimes in the report for setting new records. This new deal by Reliance will definitely help it grow exponentially.