NEW DELHI: Future Retail 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.
This story has been published from a wire agency feed without modifications to the text.