Future Retail raises funds through warrants

Future Retail, the retail arm of the Future Group has raised around Rs 2,000 crore (approx 286.7 million dollars) through issue of warrants to its promoter group entity on a preferential basis. With this, the shareholding of the promoter and promoter group in Future Retail was 47 percent at the end of March 2019.The fund has been approved by country’s fair trade regulator Competition Commission of India (CCI). The total aggregated value of funds raised through issuance of warrants is Rs 1,999.99 crore.

Future Retail is also currently in talks with e-commerce major Amazon for a stake sale. With the latest move by Future Retail it looks like the deal will finally get materialised and executed in the coming months. Future Retail is the highest revenue generator for the Future Group and has around 286 Big Bazaar stores, 89 FBB stores and 1,050 small format stores spread across the country. It had reported a total income of Rs 18,489 crore ($2.8 billion) for the last financial year.