Future Group had a consolidated debt of Rs 12,778 crore as of September 2019, as per the company’s public records. Despite having put the threat of bankruptcy behind, the retail group is cautious about the future. Future Retail has used about half of an emergency credit facility for working capital, Bloomberg News reported last week. The deal by Amazon’s investment arm is pegged at about ₹ 2,500 crore. Total debt of Future Retail stood at Rs 3,841 crore as on December 2019, shows data from Bloomberg. In case you can’t find any email from our side, please check the spam folder.
The NCDs will be issued on private placement basis in one or more tranches, Future Retail said in a BSE filing.
Its flagship company Future Retail had a gross debt of Rs 2,657 crore as of March 2019. you cannot able to sell easily... try to sell by setting limit price as low as possible Its flagship company Future Retail had a gross debt of Rs 2,657 crore as of March 2019. Now we have to see if they have enough to repay,” said a senior executive from a bank with a large exposure to Future Group. The Kishore Biyani-led company has to repay its coupon holders $14 million or almost Rs 105 crore in interest.
Your session has expired, please login again. All rights reserved. The company’s revenue was Rs 20,200 crore in FY19. Debt-ridden Future Retail on Wednesday said its board has approved raising up to Rs 650 crore by issuing non-convertible debentures (NCDs) to pare debt..
The retail giant has found itself in troubled waters since the nationwide lockdown started. If it fails to honour its dues, the retail company would be in default and may face downgrades from rating agencies. “They (Future Group) have taken whatever loans were available under the COVID-19 Emergency Credit Line from a few public sector banks,” the person added.
Stock Market Highlights: Market ends on a flat note; banks, metal stocks slip; BPCL top loser, down 9%, Asian shares stutter ahead of US presidential debate, oil dips, Oil extends losses as rising COVID-19 cases fuel demand concerns, Euro catched eye after ECB meet; pound shows resilience, dollar struggle continues, grace period to make the payment of interest has now ended. As per the company’s exchange release, it was originally due to make the interest payment on its 5.60 percent 2025 dollar notes on July 22 which it missed. Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved.
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Under India’s rules, foreign ownership in the so-called multi-brand retail trading industry — including department stores and supermarkets — is capped at 51%. Shares of Kishore Biyani-led Future Retail Ltd have lost over 73% in the last one month amid the ongoing market selloff due to the coronavirus pandemic, worsening the liquidity crisis at the Future Group which is already reeling under huge debt pressure.
The one China says it’s following in the Ladakh stand-off, Dalit women often face sexual violence because of, yes, their caste.
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