As Ambani-Adani bid to buy the debt-ridden company, the upper circuit started as soon as the news broke

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- The Gautam Adani and Mukesh Ambani-led company is among the 15 bidders who have sent their expressions of interest to acquire Future Retail's assets.

New Delhi, 11 November 2022, Friday

The shares of debt-ridden Kishore Biyani's company Future Group have seen a bumper boom today. Shares of the company rose nearly 5% in early trade to Rs. was 3.83. The company's shares are in the upper circuit today. At the same time, retail trading of this future was stopped last month. Indeed, the company is going through the process of bankruptcy and now there are reports that tycoons like Mukesh Ambani and Gautam Adani are in the race to buy it.

Ambani-Adani connection

In fact, Mukesh Ambani's Reliance and Gautam Adani Group are also in the race to buy debt-ridden Future Retail Limited (FRL). The Gautam Adani and Mukesh Ambani-led company is among the 15 bidders who have sent their Expression of Interest (EoI) to acquire Future Retail's assets. Apart from this, other companies including Capri Global Holdings, OP Jindal Group's Nalwa Steel and Power, Shalimar Corporation have also shown interest.

So far 92% of the stock has been broken

The shares of Future Retail, which is going through bankruptcy, have not been traded on BSE-NSE since October 10. That means the trading of this share has been stopped. Shares of Future Retail last traded at Rs. closed at 3.60. The stock has lost its investors more than 92% so far this year. De-listing usually occurs when a company ceases operations or wants to merge, expand or reorganize. A company that does not properly comply with the rules or is in the process of bankruptcy is still banned from trading.

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