 "money, investment, private equity, PE, banks")
Kishore Biyani’s Future Consumer (FCL) plans to raise Rs 280 crore from the International Finance Corporation (IFC) and Verlinvest SA, a private equity and venture capital entity.
The proposed fund raising will support the company’s Rs 350-crore investment plan and to repay debt.
IFC, the World Bank’s investment arm, said it would invest up to Rs 210 crore in FCL in the form of Compulsorily Convertible Debentures. Verlinvest will invest up to Rs 70 crore. Biyani and his various intermediate investment entities will contribute Rs 70 crore. The money would go for development and expansion of manufacturing and processing operations for food
