Future Retail raises Rs 500 cr via private placement of NCDs

Future Retail today raised Rs 500 crore through issue of non-convertible debentures (NCDs) on private placement basis.
"The committee of directors of the company has at their meeting held today considered, approved and allotted of 5,000, secured redeemable non-convertible debentures (NDCs) of Rs 10 lakh each, aggregating to Rs 500 crore on private placement basis, Future Retail said in a filing to the BSE.
Earlier this month, the company had raised Rs 600 crore through a similar manner.
Last month, Kishore Biyani-promoted Future Retail said it planned to raise up to Rs 1,500 crore through debt instruments to replace high cost loans and to invest on brand building and marketing.

The company had sought approval from its shareholders for raising up to Rs 1,500 crore through issue of non-convertible debentures on private placement basis.