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Kishore Biyani: Amazon may stock up on Kishore Biyani's coupons to bag Future Retail prize
Market Watch. Pinterest Reddit. By Sagar Malviya. MUMBAI: Amazon is in talks to buy a stake in Future Coupons, a firm owned by Future Group promoter Kishore Biyani , to ensure that the global Web retailer is in compliance with the amended foreign ownership rules that bar ecommerce companies from holding shares in entities selling on their platforms.
The US-based online giant was earlier in talks to acquire a stake in Future Retail, which runs more than 1, stores across food, grocery and general merchandise. Earlier this month, Future Retail announced raising Rs 2, crore through the issue of warrants on a preferential basis from Future Coupons.
Amazon may stock up on Kishore Biyani's coupons to bag Future Retail prize
This would help structure the Amazon deal, said two people aware of the development. Future Retail had approved the issuance and allotment of 3. Each warrant is convertible into one equity share and the conversion can be exercised at any time during the period of 18 months from the date of allotment, it had said on February 4.
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