InvestorQ : Will the latest Rs.300 crore fund raising help Future group tide over the crisis?
manisha Kolvenkar made post

Will the latest Rs.300 crore fund raising help Future group tide over the crisis?

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Mahima Roy answered.
10 months ago
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The beleaguered Future Consumer plans to raise Rs.300 crore via a rights issue as approved by the Board of Directors. A specially appointed Committee of Directors will finalise the terms and conditions of the rights issue including rights entitlement ratio, issue price, record date, payment option, timing etc. In addition, the Future group is also trying to monetize some of its non-core assets including the insurance business. The Future group has debt of over Rs.10,000 crore and Mr. Biyani has been seeking funding support from existing investors like Amazon and Premji Invest. Biyani recently got some respite after the court restrained UBS and IDBI from invoking their pledge of shares considering the special situation created by the COVIDI-19 pandemic.

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