Shares price of Reliance Industries, Future Retail and Future Enterprises rose on Thursday afternoon after the market regulator Sebi cleared Future Group-Reliance Industries’ multi-billion dollar deal.
During the afternoon hours, shares of Reliance Industries were trading nearly 3 per cent on the domestic benchmarks.
On the BSE, RIL was trading up by 2.96 per cent at Rs 2,115.65 while on the NSE it was at Rs 2,115.65, rising by 2.97 per cent.
Future Retail Ltd’s shares hit the upper circuit of Rs 81.35, rising 4.97 per cent from the previous close.
Meanwhile, Future Enterprises Ltd’s stock also gained 4.98 per cent to touch the upper circuit limit of Rs 12.01.
On Wednesday, Sebi gave its nod to Future Group’s scheme of arrangement and sale of assets to Reliance Industries.
Based of this, the BSE 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.
“It is observed that there are certain ongoing litigations/arbitration/legal proceedings against the draft scheme,” the Sebi said.
“In view of the same, the company is advised that these comments of SEBI on the draft scheme of arrangement are subject to the outcome of any of the ongoing litigations/arbitration/legal proceeding involving the draft scheme and/or the decision by any competent authority/competent court in this regard,” it said.%MCEPASTEBIN%
Shares price of Reliance Industries, Future Retail and Future Enterprises rose on Thursday afternoon after the market regulator Sebi cleared Future Group-Reliance Industries’ multi-billion dollar deal.
During the afternoon hours, shares of Reliance Industries were trading nearly 3 per cent on the domestic benchmarks.
On the BSE, RIL was trading up by 2.96 per cent at Rs 2,115.65 while on the NSE it was at Rs 2,115.65, rising by 2.97 per cent.
Future Retail Ltd’s shares hit the upper circuit of Rs 81.35, rising 4.97 per cent from the previous close.
Meanwhile, Future Enterprises Ltd’s stock also gained 4.98 per cent to touch the upper circuit limit of Rs 12.01.
On Wednesday, Sebi gave its nod to Future Group’s scheme of arrangement and sale of assets to Reliance Industries.
Based of this, the BSE 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.
“It is observed that there are certain ongoing litigations/arbitration/legal proceedings against the draft scheme,” the Sebi said.
“In view of the same, the company is advised that these comments of SEBI on the draft scheme of arrangement are subject to the outcome of any of the ongoing litigations/arbitration/legal proceeding involving the draft scheme and/or the decision by any competent authority/competent court in this regard,” it said.