Future Group, Indian retail behemoth, is reportedly on the verge of securing a US $ 250 million investment from PremjiInvest. As per a leading daily, PremjiInvest, an investment firm, is eyeing a 6 per cent stake in Future Retail, a wing of the Group that runs multiple retail formats in both value and lifestyle segments.
Interestingly, this development has come amid Future Group’s talks with leading e-retailer Amazon which is seeking a stake in the company after its competitors, Flipkart and Walmart inked a record US $ 16 billion-deal.
Both the parties have not made an official announcement; however, it is being reported that Amazon is all set to acquire 10 per cent share worth US $ 400 million in Future Group.
“Amazon is trying to enhance its business by tapping Big Bazaar and Easyday stores’ customers,” a source closely involved in the development was quoted as saying by Times of India.
PremjiInvest had previously invested in Kishore Biyani-led group and acquired 8 per cent stake in Future Lifestyle Fashion Limited (FLFL).
