Future Consumer (FCL) has planned to raise upto Rs 350 crore through the issuance of equity linked instruments. Existing investors led by International Finance Corporation (IFC) and Verlinvest along with the Promoter Group are expected to participate in this fund raise.
The primary purpose of the fund raising is to fund various expansion plans and business initiatives of the Company and improvement of costs and maturity profile of existing debt thereby further strengthening the balance sheet of FCL.
IFC is currently holding nearly 3% stake will be infusing upto Rs 210 crore while Verlinvest holding approximately 7% stake will invest upto Rs 70 crore through preferential allotment of Compulsorily Convertible Debentures (CCDs).
Future Consumer (formerly Future Consumer Enterprise) is a holding company. It is a food company, which is engaged in branding, marketing, sourcing, manufacturing and distribution of fast moving consumer goods, food and processed food products. It also has agri-sourcing operations in India.
