Future Retail on Tuesday said it has raised nearly ₹2,000 crore through issue of warrants to its promoter group entity on a preferential basis.
“The committee of directors of the company has inter-alia considered and allotted 3,96,03,960 equity warrants at a price of ₹505 per warrant, each convertible into or exchangeable for one equity share of face value of ₹2 each to Future Coupons Ltd, a promoter group entity, on preferential basis,” Kishore Biyani-led company said in a regulatory filing.
The total aggregated value of funds raised through issuance of warrants is ₹1,999.99 crore.
Future Retail said the allotment has been made post receipt of the approval of Competition Commission of India (CCI).
Shares of Future Retail settled 0.46 per cent lower at ₹423 apiece on BSE.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.