Future Enterprises has surged 15% to Rs 43, followed by Future Consumer (12% to Rs 45.25), Future Market Networks (12% at Rs 76.80) and Future Supply Chain (7% at Rs 681). In comparison, the S&P BSE Sensex was trading 0.66% or 230 points higher at 35,096.
Amazon.com Inc is likely to buy at least 7% to 8% stake in India's Future Retail through an investment arm, CNBC-TV 18 reported, citing sources.
The potential cash-and-stock deal, which is in its final stages, could be worth Rs 25 billion ($338 million) and is likely to be signed in the next two weeks, the channel said.
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“In the course of its business, the Company evaluates various possibilities, including in relation to business association with third parties, which is always a subject matter of further feasibility studies and the need for requisite consents in accordance to the applicable laws,” Future Retail said on August 27, 2018. The company had made a clarification on
news report that "Google, Paytm Mall may team up to shop for the Future Retail stake."