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Future Retail shines on raising Rs 2,000 crore through issue of warrants

Mumbai : Future Retail is currently trading at Rs. 427.00, up by 5.75 points or 1.36% from its previous closing of Rs. 421.25 on the BSE. The scrip opened at Rs. 425.90 and has touched a high and low of Rs. 428.00 and Rs. 424.40 respectively. The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 638.95 on 30-Apr-2018 and a 52 week low of Rs. 401.95 on 27-Feb-2019.

Last one week high and low of the scrip stood at Rs. 435.15 and Rs. 414.70 respectively. The current market cap of the company is Rs. 21511.21 crore. The promoters holding in the company stood at 47.02%, while Institutions and Non-Institutions held 29.09% and 23.89% respectively. Future Retail has raised nearly Rs 2,000 crore through issue of warrants to its promoter group entity on a preferential basis.

The committee of directors of the company has inter-alia considered and allotted 3,96,03,960 equity warrants at a price of Rs 505 per warrant, each convertible into or exchangeable for one equity share of face value of Rs 2 each to Future Coupons, a promoter group entity, on preferential basis. The allotment has been made post receipt of the approval of Competition Commission of India (CCI).

Future Retail offers food and grocery categories, fresh fruits and vegetables, meat and poultry, dairy products, staples, FMCG and processed foods, electronics and appliances, clothing and footwear, furniture and furnishing, and other household articles.

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