Future Retail today said that its Board of Directors of the company has approved to raiseRs. 200 crore to reduce debt. At least 75% of the funds will be used for reducing debt.
The company would raise funds through issue of shares or warrants on preferential basis to investors and promoters of around Rs. 400 crore. Future Retail will issue Rs.76.9 trillion warrants at Rs 130 per share.
The company will issue 1.5 crore equity shares of Rs. 2 each at a price of Rs. 130 per share on preferential basis to Brand Equity Treaties Ltd.
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