- Mukesh Ambani’s next target is retail
- Preparing to buy stake in Future Group
- Kishore Biyani’s company is debt-ridden
- New Delhi: Reliance Industries Chairman Mukesh Ambani has met a big target by making his company debt-free. After this, it can be said that the share sale in Reliance Jio is over. Although the company is yet to be listed in the share market, for the time being, Reliance Jio is a set company as digital platforms.SBI Flexi Deposit Scheme: RD benefit in savings accountAlso Read: Video: Shops in Bur Dubai temple complex gutted
Can focus on retail – After Reliance Telecom (Telecom Sector) news comes that Mukesh Ambani can buy a stake in Future Group. Future Group is currently going through a bad phase and this is why Kishor Biyani has approached Ambani. Talking about Future Group, the total listed 6 companies of Future Group had a loan of Rs 12,778 crore as of September 2019. Kishore Biyani holds 42 percent of this through Future Corporate Resources and Future Coupons. However, about 75 percent of the shares are pledged to its lenders. Future Retail has around 1500 stores / outlets in 400 cities. Amazon also holds a stake in Future Group.
SBI Flexi Deposit Scheme: RD benefit in savings account
On the other hand, Reliance Retail Unit has 11,784 retail stores. It has more than 6,700 cash and carry wholesale. Recently the company launched Jio Mart (Jio Mart’s online grocery is in the country when there is a lockdown. The company has signed up for this with WhatsApp) which is an online grocery service (Online Grocery). Its goal is to overtake Amazon’s local unit and Walmart’s flipkart.
