Several suitors, including Reliance Retail Ltd and private equity firm Samara Capital, are in advanced talks to buy a stake in Kishore Biyani’s Future Retail Ltd, which runs the popular BigBazaar supermarket stores, said two people aware of the development.
“There are a couple of other investors, too, that are in the fray. The deal is in advanced stages of discussion and the group is trying to close the transaction within this month,” said one of the people on condition of anonymity. If Future group chooses to sell to a strategic investor, Biyani may have to give up control of the company he founded, the second person said.
