The promoters of the debt-ridden Future Group, Kishore Biyani and his family, are in talks with Mukesh Ambani’s Reliance Industries Ltd (RIL) to sell the group’s supply chain and logistics operations. RIL is rumoured to be interested in acquiring Future Group’s whole warehouse and logistics sector in a new agreement. The logistics and warehousing operations of the Future Group are largely managed by two subsidiaries: Future Supply Chain Solutions Ltd and Future Market Networks Ltd. Both of these properties could be sold to RIL. Since RIL has acquired control of 900 Big Bazaar locations, the acquisition of Future’s logistics and storage operations will aid in the reopening of stores as well as the fulfilment of RIL’s own supply chain requirements.
Future Supply Chain Solutions has 58 distribution centres with a total warehouse space of 6.75 million sq. ft. Ritvika Trading Pvt. Ltd, along with family members of Biyani, hold 22.62% as promoters in Future Supply Chain Solutions. In Future Market Networks, 71.57% stake is held by promoters, of which Future Corporate Resources Pvt. Ltd owns 71.47%.
