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Kishore Biyani's Future Enterprises plans to raise up to Rs 900 cr via NCDs

Future Enterprises said this fund raising plan is subject to approval by the members of the company

Press Trust of India  |  New Delhi 

Kishore Biyani, Founder & CEO, Future Group
Kishore Biyani, Founder & CEO, Future Group

Kishore Biyani-led Monday announced plans to raise up to Rs 900 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

The company plans to raise funds to replace "few of its high cost current or near term maturity debts as well as to meet further funds requirements".

"The meeting of board of directors of the company... considered and approved enabling resolution giving authority to issue secured redeemable non-convertible debentures on private placement basis, for a value of up to Rs 900 crore, in one or more tranches," said in a BSE filing.

said this fund raising plan is subject to approval by the members of the company.

Shares of Future Enterprises were trading 2.15 per cent lower at Rs 34.15 apiece on BSE.

First Published: Mon, June 24 2019. 14:10 IST
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