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Future

Future Retail raises ₹2,000 crore through issue of warrants to promoter entity

Loknath Das
Last updated: 2019/04/24 at 6:32 AM
By Loknath Das 1 Min Read
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 (Photo: Mint)

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.

[“source=livemint”]

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TAGGED: 000, Crore, entity, Future, Issue, of, promoter, Raises, Retail, through, to, warrants, ₹2
Loknath Das April 24, 2019
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