Kishore Biyani-led Future Capital Holdings today said it will raise long term funds through issuance of securities or debt for financing its expansion plans.
The board has approved the raising of additional long term funds through issuance of further securities or via debt for general corporate purposes, expanding existing businesses and for strategic investments or acquisitions, Future Capital said in a filing to the Bombay Stock Exchange.
The amount of securities issued would not exceed 10 per cent of the equity share capital of the company.
Shares of the firm today surged five per cent to hit the upper circuit at Rs 256.80 in the morning trade on the BSE.
Earlier this month, another Kishore Biyani-promoted firm Pantaloon Retail had approved the raising of Rs 1,000 crore through issuance of securities to institutional investors.
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