Future Enterprises to raise Rs 900 crore to meet funds requirements

By

Maverick Martins

Published
Jun 25, 2019

Future Group firm Future Enterprises is planning to raise Rs 900 crore ($129.6 million) through the issuance of non-convertible debentures (NCDs) on private placement basis.
 

With the latest fundraise, Future Enterprises looks to replace a few of its high-cost current or near term maturity debts as well as to meet further funds requirements.
 
"The meeting of the 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," Future Enterprises said in a BSE filing.

With Future Enterprises, Future Group wants to accelerate its Retail 3.0 strategy dubbed ‘Tathastu’ starting with Future Pay.
 
Last year, the company had acquired digital payments firm LivQuik for around Rs 25 crore ($3.4 million) to help the group strengthen its digital payments service across multiple formats of the group like Big Bazaar, Central, Brand Factory, Ezone, Fbb, and others.
 
Future Group is the parent of four listed retail entities Future Retail, Future Lifestyle Fashion, Future Consumer Ltd and Future Enterprises Ltd with total revenue of $4.4 billion.