Sebi seeks clarification on Future Retail's rights issue

Tags: Companies
Market regulator Sebi has sought clarification from Kishore Biyani-promoted Future Retail regarding the company's proposed Rs 1,600 crore rights issue.

Without disclosing the details of the clarifications sought, Sebi has said that "clarifications (are) awaited from lead manager" for the proposed rights issue.

In a rights issue, shares are issued to existing investors as per their holding at pre-determined price and ratio.

As per the latest weekly update to the processing status of draft offer documents filed with Sebi, the regulator has said clarifications were awaited on the proposed rights issue of Future Retail as on August 15 this year.

The status is updated on a weekly basis by the regulator and the next update of the status as on August 22, this year, would be uploaded on Sebi Website on the next working day.

Market regulator said that it might issue observations on Future Retail document within 30 days from the date of receipt of satisfactory reply from the lead merchant bankers to the clarification or additional information sought from them.

The regulator had received the draft offer documents on July 22, this year through its lead manager Axis Capital. The company's proposed rights issue is estimated to raise up to Rs 1,600 crore.

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 as on March 31, 2014.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Regional parties that brought diversity to Indian democracy are at a dead end

    In the two decades, which began in 1989, when the paradigm of coalition politics came to dominate central governments, it would have sounded far-fetch

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Kuruvilla Pandikattu SJ

What we can learn from agnosticism

As an agnostic, the American writer David Breeden is aware ...

Shona Adhikari

When women to birds become a painter’s muses

This week the focus is on renowned artist Amitabha Banerjee, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture