InvestorQ : Are Adani and Ambani making a bid for Future Retail now?
Lavanya Subramanian made post

Are Adani and Ambani making a bid for Future Retail now?

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Anamika Sodhani answered.
1 week ago
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That is true. It is reported that Gautam Adani and Mukesh Ambani have entered the fray to buy out India's debt-laden Future Retail Ltd. Apart from these 2 groups, 13 other bidders are also in the fray. Future Retail was dragged into bankruptcy by banks after it defaulted on loans and lenders had conveniently rejected the $3.4 billion offer by Reliance Retail. Total lender claims of 33 creditors are worth around Rs21,060 crore and it is doubtful how much of value they can really recover out of FRL.

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