Future Retail has received market regulator Securities and Exchange Board of India’s (SEBI’s) approval to raise up to Rs 1,600 crore through rights issue. The company had filed its application with the SEBI for the proposed rights issue in July.
The market regulator issued its final observations on the draft offer documents on October 10. The regulator had received the draft offer documents on July 22 through company’s lead manager Axis Capital.
Future Retail (formerly known as Pantaloon Retail (India)) is India’s leading retail chain and part of Indian conglomerate Future Group. It operates retail space spread over 11 million square feet. It has a network of more than 1000 stores across 63 cities in India and has employee strength of 30,000 people.
