Future Retail files papers for Rs 1,600 cr rights issue

Written By Unknown on Selasa, 29 Juli 2014 | 23.25

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.

Kishore Biyani-promoted  Future Retail has filed initial papers with market regulator Sebi to raise up to Rs 1,600 crore through a rights issue.

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.

"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.

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.

Future Retail is the flagship company of the 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 company has pan-India presence with 321 stores in 98 cities in the country as of March 31, 2014.

Future Retail stock price

On July 28, 2014, Future Retail closed at Rs 127.80, up Rs 0.90, or 0.71 percent. The 52-week high of the share was Rs 147.85 and the 52-week low was Rs 63.30.


The company's trailing 12-month (TTM) EPS was at Rs 0.17 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 751.76. The latest book value of the company is Rs 140.28 per share. At current value, the price-to-book value of the company is 0.91.


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