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Future Consumer to raise Rs 350 crore via CCD

Kishore Biyani's Future Consumer plans to raise Rs 350 crore from existing investors – IFC, Verlinvest and promoters to fund expansion plans. IFC will invest Rs 210 crore while Verlinvest SA, a Belgium-based investment company, will invest Rs 70 crore through preferential allotment of compulsory convertible debentures (CCD). IFC holds about 3% stake and Verlinvest has 7% stake in Future Consumer. Existing promoter group will infuse another Rs 70 crore. The CCDs are convertible into equity shares of the company within 18 months from the date of allotment, at a conversion price Rs 45.02 per equity share. 

Read More at The Economic Times News date : 8 Apr 2019, Monday

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