> Tech13 firms including those run by Indian billionaires Mukesh Ambani and Gautam Adani have submitted their EoI (Expression of Interest) to acquire the debt-ridden Future Retail Group. Besides Reliance Industries Ltd (RIL), April Moon Retail Pvt Ltd, a joint venture between Adani Airport Holdings and Flemingo Group submitted their EoI. Future Retail, once the second largest in the country defaulted on its loans earlier. However, according to sources, RIL has submitted the most lucrative bid. The duopoly of Ambani and Adani so far was hedged.

Source: Economic Times November 11, 2022 15:15 UTC