Future Retail Limited (NSEI:FRETAIL) has put up the final list of 48 bidders that have submitted their expressions of interest (EoIs) to acquire FRL. These bidders include Ambit Flowers Asset Reconstruction Co. Private Limited, Reliance Retail Ventures Limited, WH Smith Travel Ltd. and April Moon Retail Private Limited (a joint venture between Adani Airports Holding and Flemingo Group).

They also include Jindal Power Limited and a host of recycling companies, according to FRL's stock exchange filing. This comes after FRL put up a list of 49 companies, which had submitted EoIs on April 10, 2023, after the company's lenders decided to invite fresh bids. Bommidala Enterprises, which had earlier submitted an EoI, said it will not be submitting a resolution plan, according to the filing.

This month, the National Company Law Tribunal (NCLT) had granted an extension of 90 days for conducting the corporate insolvency resolution process (CIRP) of FRL and extended it to June 15, 2023. Last month, creditors to FRL had invited EoIs for the company and its assets. Earlier, it had received EoIs and finalised 11 prospective bidders, including Reliance and April Moon Retail.

But, it could not get a resolution plan despite two extensions in the deadline for submission. The committee of creditors (CoC) had provided two options in the EoI, for which the last date of submission was April 7, 2023.