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Future Retail touches roof on getting nod to raise up to Rs 650 crore through NCDs

28 May 2020 Evaluate
Future Retail is currently trading at its upper circuit limit of Rs. 80.90, up by 3.85 points or 5.00% from its previous closing of Rs. 77.05 on the BSE.

The scrip opened at Rs. 80.90 and has touched a high and low of Rs. 80.90 and Rs. 80.90 respectively. So far 2582 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 489.25 on 28-Jun-2019 and a 52 week low of Rs. 61.05 on 09-Apr-2020.

Last one week high and low of the scrip stood at Rs. 80.90 and Rs. 68.20 respectively. The current market cap of the company is Rs. 4386.42 crore.

The promoters holding in the company stood at 40.31%, while Institutions and Non-Institutions held 24.91% and 34.78% respectively.

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

2.41 0.00 (0.00%)
01-Aug-2024 16:01 View Price Chart
Peers
Company Name CMP
Avenue Supermarts 4424.35
Trent 4175.00
Vishal Mega Mart 122.15
Aditya Birla Lifesty 109.45
PN Gadgil Jewellers 671.00
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