SEBI Nod, BSE No-Adverse-Observation Status Paves Way For Reliance-Future Deal
Amazon had written several letters to the SEBI and other regulatory agencies to suspend their review of the deal and not grant it a no-objection certification. Twitter Outlook Web Bureau 2021-01-21T11:25:12+05:30 SEBI Nod, BSE No-Adverse-Observation Status Paves Way For Reliance-Future Deal outlookindia.com 2021-01-21T11:32:27+05:30
Future Group s scheme of arrangement and sale of assets to Reliance was given a go-ahead by market regulator SEBI on Wednesday, based on which the Bombay Stock Exchange also granted its no adverse observation report to the Rs 24,713-crore deal.
The Securities and Exchange Board of India allowed the deal with some riders, five months after it was announced last August.
SEBI approves Reliance-Future deal, BSE grants no-adverse-observation status
The Securities and Exchange Board of India allowed the deal with some riders, five months after it was announced last August
PTI | January 21, 2021 | Updated 07:55 IST
Market regulator SEBI gave a go-ahead on Wednesday to Future Group s scheme of arrangement and sale of assets to Reliance, based on which the Bombay Stock Exchange also granted its no adverse observation report to the Rs 24,713-crore deal. Amazon had written several letters to the SEBI and other regulatory agencies to suspend their review of the deal and not grant it a no objection certification on ground that its challenge to the agreement was before the Delhi High Court.
RIL shares were trading over Rs 2,100 apiece after rising nearly 3 per cent on the stock market. The RIL stock was also one of the top gainers in the BSE pack.
Read more about Stock Exchange clears $3.4 bn Future-Reliance deal in setback for Amazon on Business Standard. SEBI has advised that Future should share various details of company s ongoing litigation with Amazon when it approaches India s National Company Law Tribunal