Big Bazaar owner Future Retail buys HyperCity for ₹655 crore

Kishore Biyani-led Future Retail, that runs Big Bazaar brand of stores, on Thursday announced ₹655-crore acquisition of HyperCity Retail owned by Shoppers Stop. HyperCity is a premium hypermarket chain that owns 19 stores mostly in large metros. Future Retail will allot shares worth ₹500 crore on preferential basis and the remaining ₹155 crore will be paid in cash.