Future Lifestyle Fashions has received its board’s approval to raise more than Rs 610 crore from its promoter and IFC. Of total, the company will raise Rs 400 crore through issue of non-convertible debentures (NCDs) or other securities on private placement basis and will raise Rs 213 crore on preferential basis from International Finance Corporation (IFC), a member of the World Bank group. The raised fund will be used for enhancing stake in subsidiaries and debt reduction.
Future Lifestyle Fashions is an integrated lifestyle brands and fashion retail company. The company operates a portfolio of brands that are well diversified across key growth categories like women’s wear, fast fashion and casual wear.
