Adani, Reliance among 15 bidders in race to buy Future Retail's assets

Capri Global Holdings, OP Jindal group's Nalwa Steel and Power, Shalimar Corporation among companies expressing interest

The Adani group and Reliance Industries, India’s top business conglomerates, are among the 15 entities that have submitted their expressions of interest (EoIs) to acquire the assets of bankrupt Future Retail (FRL).

April Moon Retail, a joint venture between Adani Airport Holdings and promoters of the Flemingo group, Reliance Retail Ventures, and Dharampal Satyapal, a consumer product firm, are among the suitors, banking sources said. Capri Global Holdings, OP Jindal group’s Nalwa Steel and Power, Shalimar Corporation, UV Multiple Asset Investment Trust’s Special Situation Fund, and United Biotech had also sent in their EoIs by November 3, the extended deadline