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Future Consumer, has allotted debentures worth Rs.150 crore. The company board at its meeting held on February 15, has allotted 1500 senior, secured non-convertible debentures.
The face value of the debentures is Rs.10 lakh each and has been allotted for cash at par to CDC Emerging Markets, on a private placement basis. Further, the company has also associated with CDC Group plc to raise Rs.200 crore via non-convertible debentures (NCDs) primarily.
This NCDs have a term of 7 years and they will be used for financing capex, long-term working capital and support the growth of the business.
Moreover, Kishore Biyani, Vice Chairman of Future Consumer stated, “We are pleased to be associated with an esteemed institution like CDC, which is the world’s oldest Development Finance Institution (DFI).”
