Future Retail's shares surged over 2% as Amazon acquires stake in Future Coupons
Updated : August 23, 2019 02:34 PM IST
The share price of Future Retail rose 2.48 percent intraday on Friday after Amazon announced that it will acquire 49 percent stake in Future Coupons, a firm owned by Future Group promoter Kishore Biyani.
The deal, which is likely to be valued at about Rs 1500 crore, will give the American online giant a minority stake in supermarket chain FRL.
Intraday, the share price surged 2.48 percent to its day's high of Rs 424.
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