Future Retail has redeemed 1,000 Optionally Convertible Debentures (OCDs) (Series 1) of Rs 10,00,000 each, aggregating to Rs 100 crore, issued to IFCI. This is as per redemption notice received from IFCI in accordance with the terms of OCD subscription agreement as amended by the amendment agreement dated August 08, 2014 executed between the company and IFCI.
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.