BackFuture Retail’s Rs1,600 crore rights issue to open on 15 January
The issue closes on 29 January 2015 with the last date for request for split application forms is 22 January 2015
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New Delhi: Future Retail Ltd promoted by Kishore Biyani on Tuesday said its 1600 crore rights issue will open on 15 January 2015 and close on 29 January 2015.
“The committee, in its meeting held on 23 December, 2014, has finalised issue opening, closing dates and last date for request for split application forms of the equity shares," Future Retail said in a BSE filing.
The issue opens on 15 January 2015 and closes on 29 January 2015. Last date for request for split application forms is 22 January 2015, the company added.
Split application forms enable shareholders to renounce a part of their entitlement and apply for the rest of it or the shareholders can renounce their entitlement in favour of more than one person.
On 15 October, Future Retail received market regulator Sebi’s approved to raise up to ₹ 1,600 crore through rights issue.
The company had filed its application with the Securities and Exchange Board of India (Sebi) for the proposed rights issue in July. Sebi issued its final observations on the draft offer documents on 10 October.
In a rights issue, shares are issued to existing investors as per their holding at pre-determined price and ratio.
Future Retail is the flagship company of Future Group and is into organised multi-format retail business in India. The company has retail stores in various formats, including food, fashion apparels, accessories and footwear, general merchandise, consumer durables and electronics. The firm has pan-India presence with over 320 stores in nearly 100 cities.
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