Home / Knowledge / News / Apparel/Garments / Future Retail raises Rs 600 crore through NCDs
Future Retail raises Rs 600 crore through NCDs
08
Apr '15
Kishore Biyani led Future Retail said it has raised Rs 600 crore through an issue of non-convertible debentures (NCDs) on private placement basis.

In a BSE filing, Future Retail said, "The committee of directors has considered, approved and allotted of 6,000, 10.25 per cent secured redeemable non-convertible debentures (NCDs) of Rs 10 lakh each, aggregating to Rs 600 crore on private placement basis."

The filing added that the said NCDs shall be listed on Wholesale Debt Market Segment of BSE Limited and have been rated CARE AA- (Double A minus) by Credit Analysis & Research Limited (CARE).

Last month, Future Retail had announced its intention to raise up to Rs 1,500 crore through debt instruments to replace high cost loans.

The retailer had sought approval from its shareholders to raise up to Rs 1,500 crore through a non-convertible debentures issue on private placement basis.

According to Future Retail, it hopes to borrow at a reduced rate of interest, following overall reduction in base lending rate initiated by banks.

At that time, it had said that through this fresh offering, it plans to replace some of its high cost near-term maturity debts with lower cost and long-term maturity debts. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

Myanmar's garment units risk closure due to virus impact

Myanmar's garment factories are facing the risk of shutdown as the...

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

GMAC urges EU to restore full EBA rights for Cambodia

Expressing disappointment over the recent European Union (EU)...

Pic: Shutterstock

Apparel/Garments | On 24th Feb 2020

Uzbekistan 3rd biggest garment exporter to Kazakhstan

Uzbekistan exported 10,000 tonnes of apparel to Kazakhstan in 2019,...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Technical textiles industry moving back to Europe

Top executives, Textile industry

Top executives
Textile industry

Textile institutes need to change their curriculum

Abhimanyu Singh Rathore & Barbara Anna Kosiorek, Kannbar

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Davide Maccabruni,

Davide Maccabruni

Schärer Schweiter Mettler (SSM) manufactures and supplies textile...

Simon Daplyn,

Simon Daplyn

Switzerland-based Sensient Imaging Technologies is a pioneer with a global ...

Herbert Guebeli,

Herbert Guebeli

Switzerland-based Sedo Engineering develops technologies for the denim...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search