Business Standard

Future Retail to raise up to Rs 650 crore via NCDs to refinance debt

The funds will be used mainly for replacing the company's existing high cost current or near term maturity debts requirements

Kishore Biyani, Future retail, big bazaar, bazar

The move comes after Future Retail promoter Kishore Biyani defaulted on loans in March.

BS Web TeamPTI New Delhi
Debt-ridden Future Retail on Wednesday said its board has approved raising up to Rs 650 crore by issuing non-convertible debentures (NCDs) to pare debt.

The NCDs will be issued on private placement basis in one or more tranches, Future Retail said in a BSE filing.

The Board has also authorised the Committee of Directors to decide on matters and transactions relating to aforesaid proposed issuance and allotment of NCDs including but not limited to finalisation and approval of terms and conditions of issue, number of

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First Published: May 27 2020 | 3:53 PM IST

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