Future Retail has raised Rs 500 crore through issue of non-convertible debentures (NCDs) on private placement basis.
“The committee of directors of the company has at their meeting considered, approved and allotted of 5,000, secured redeemable non-convertible debentures (NDCs) of Rs 10 lakh each, aggregating to Rs 500 crore on private placement basis, Future Retail said.
Earlier this month, the company had raised Rs 600 crore through a similar manner.
Last month, Kishore Biyani-promoted company said it planned to raise upto Rs 1,500 crore through debt instruments to replace high cost loans and invest on brand building and marketing.
The company had sought approval from its shareholders for raising upto Rs 1,500 crore through issue of non-convertible debentures on private placement basis.