Future Retail (FRL) has received approval from its board to raise long-term funds up to $ 500 million (around Rs 3,588 crore) for the acquisition of certain in-store infrastructure retail assets. The board has reconsidered the various funding options for the acquisition of the retail infrastructure assets and found it more efficient to fund the same through the United States Dollar denominated borrowings.
The board, at its meeting held on January 04, 2020 also approved the allotment of total 396,03,960 equity warrants at a price of Rs 505 per warrant to Future Coupons (FCPL), a promoter group entity, on preferential basis against receipt of 25 per cent of warrant subscription price (i.e. Rs 126.25 per warrant).
Future Retail offers food and grocery categories, fresh fruits and vegetables, meat and poultry, dairy products, staples, FMCG and processed foods, electronics and appliances, clothing and footwear, furniture and furnishing, and other household articles.
