Spencers Retail has sought shareholders’ approval to raise Rs 350 crore, by using movable or immovable properties of the firm as collateral. Keeping in view the company's existing and future fund requirements to support its business operations, the company proposes to borrow funds from financial institutions, banks, NBFCs and other lenders for an amount up to Rs 350 crore.
The company has also sought shareholders’ approval to invest Rs 250 crore for further expansion and investment through a special resolution.
Spencers Retail is a multi-format food-first retailer providing a wide range of quality products to discerning young customers - well-travelled citizens of the world, looking out for authentic flavors and experiences in a fun-filled shopping environment.
