Reliance almost doubles retail footprint with acquisition of Future Group
Reliance Retail has also proposed to invest Rs 1,200 crore in FEL preferential equity (6.09% of post-merger equity of FEL) and Rs 1,600 cr in preferential warrants (option to acquire further 7.05%). The deal increases the retail store footprint of Reliance Retail Ltd, a unit of RIL, from current 28.7 million square feet to 52.5 million sq ft, consolidating its pole position, analysts said.