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The sources said the preparations and discussions have been largely internal for now, but the company is preparing to tap external advisers on the process soon.
Kerala records the highest monthly per capita consumption of gold ornaments in the country, but the present impasse has erased around Rs 20,000 crore from its normal yearly earnings.
Through the deal, Reliance will acquire Future Retail that owns the Big Bazaar that sells everything from groceries to cosmetics and apparel, and Future Lifestyle Fashions Ltd that operates fashion discount chain Brand Factory.
Strong investor interest in Reliance's consumer businesses, Jio Platforms and Reliance Retail, will help the two units move toward a public listing in the next five years.
With this investment, Jio Platforms has raised Rs 97,885.65 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and ADIA in less than seven weeks.
Both Morgan Stanley and Goldman Sachs are in talks with Reliance about a possible Jio Platforms IPO mandate.
The development comes just days after global oil prices tumbled 8 per cent on Thursday with Saudi Arabia and the United Arab Emirates flooding the market with a cheap supply.
India's import bill could slip to half of current levels at $64 billion witnessed in FY16 when crude had fallen to $26 a barrel for some time.
National Science Day is celebrated on February 28 each year commemorating Indian physicist C V Raman's discovery in 1928 of the Raman effect
Parasite shares the same theme of 'infiltration' by proxy.