Future Retail has received approval from its board to raise up to Rs 650 crore by issuing non-convertible debentures (NCDs) to pare debt. The NCDs will be issued on private placement basis in one or more tranches. The funds will be used mainly for replacing the company's existing high cost current or near-term maturity debts requirements. The Board of Directors of the company at its meeting held on May 27, 2020, has approved the same.
The Board has also authorised the Committee of Directors to decide on matters and transactions relating to aforesaid proposed issuance and allotment of NCDs including but not limited to finalisation and approval of terms and conditions of issue, number of NCDs and timing of the issue from time to time.
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.
| Company Name | CMP |
|---|---|
| Avenue Supermarts | 4386.35 |
| Trent | 4180.90 |
| Vishal Mega Mart | 122.05 |
| Aditya Birla Lifesty | 107.80 |
| PN Gadgil Jewellers | 666.95 |
| View more.. | |
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