Future Retail files papers for Rs 1,600cr rights issue
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31 Jul 2014
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Future Retail has filed initial papers with market regulator Sebi to raise up to Rs 1,600 crore through a rights issue, reported PTI. As per the draft letter of offer of Future Retail filed with Sebi, the company would issue certain classes of shares to its public shareholders on a rights basis, as per the media reports. Total proceeds from the issue of equity shares and class B shares would aggregate up to Rs 1,600 crore, Future Retail said in the document. In a rights issue shares are issued to existing investors as per their holding at a pre-determined price and ratio. According to media reports, the funds from the issue would be utilised towards repayment/ pre-payment of certain borrowings availed by the company as well as for general corporate purposes. Axis Capital, JM Financial, Institutional Securities and Edelweiss Financial Services are the lead managers to the issue. Link Intime India is the registrar to the issue, reported media. |
| Source: Dion Global Type: IPO Related |
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