Future Retail gets nod to raise up to Rs 650 crore through NCDs

28 May 2020 Evaluate

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.

Future Retail Share Price

2.05 0.01 (0.49%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
Avenue Supermarts 4529.35
Aditya Birla Fashion 205.50
Trent 3961.80
Future Retail 2.05
Electronics Mart Ind 191.00
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.