Walgreens Boots Alliance’s negotiations with Apollo and Reliance currently have the most momentum, said people in the know. Their proposal values Boots at more than £5 billion ($6.3 billion).
Debt-laden Future Retail's offshore bondholders were promised 100% payment in the rescue offer from Ambani but Indian lenders were asked to take a haircut of as much as 66%.
Reliance’s decision to back out comes after almost two years of tortuous litigation in various courtrooms across India and Singapore that worsened the financial health of Future Group.
RIL is in the middle of a Rs 6 trillion clean-energy push. So, it makes sense for Ambani to back a technology that’s as cheap as traditional lead-acid batteries.
Launch of affordable 4G JioPhone & hike in mobile tariffs pushed profits during Oct-Dec 2021 quarter. Revenue from refining operations also improved with revived fuel demand.
In October 2020, Future Group had been dragged by Amazon into a legal battle at the Singapore International Arbitration Centre, over a deal with Mukesh Ambani's Reliance Retail
Reliance Capital joins a long list of Indian shadow banks that have keeled over since the sudden collapse of infrastructure financier IL&FS Group in September 2018.
Finance Minister Harpal Singh Cheema emphasised improving ‘fiscal health’ and augmenting tax revenues in AAP govt's maiden Budget Monday, but outstanding debt expected to rise by 8.4%.
These registrations pertain to the Indian Air Force's Agniveer Vayu programme. The online portal for the first phase was opened at 10 am Friday, and will close on 5 July.
Modi govt's biggest flaw has been its disinclination to accept limitations of electoral majorities. This ruined land acquisition and farm reform, stalled labour codes.