Future Retail gains on fund raising plans

Future Retail advanced 0.83% to Rs 345 after it announced that its board will consider the proposal to raise funds on Saturday, 4 January 2020.

In an exchange filing made after market hours yesterday, the retail chain operator informed that a meeting of the board of directors of the company is scheduled to be held on Saturday, 4 January 2020.

The board meeting is to consider and approve the proposal for raising of funds by way of issue of one or more of instruments comprising of equity shares, convertible securities, warrants, debt securities including issue of bonds or other instruments in India and/or overseas, whether Rupee denominated or denominated in foreign currency, through private placement, preferential issue, qualified institutions placement external commercial borrowing including by way of foreign currency bonds offering, or such other methods or combinations thereof as may be decided by the board.

Future Retail operates some of India's most popular retail chains viz. Big Bazaar, EasyDay and Heritage Fresh.

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