Future Retail Tuesday said it has raised nearly Rs 2,000 crore through issue of warrants to its promoter group entity on a preferential basis, according to a PTI report.
“The committee of directors of the company has inter-alia considered and allotted 3,96,03,960 equity warrants at a price of Rs 505 per warrant, each convertible into or exchangeable for one equity share of face value of Rs 2 each…to Future Coupons Ltd, a promoter group entity, on preferential basis,” Kishore Biyani-led company said in a regulatory filing.
The total aggregated value of funds raised through issuance of warrants is Rs 1,999.99 crore.
Future Retail said the allotment has been made post receipt of the approval of Competition Commission of India (CCI).
Shares of Future Retail settled 0.46 per cent lower at Rs 423 apiece on BSE.
