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Last Updated : Feb 16, 2018 09:54 AM IST | Source: Moneycontrol.com

Future Consumer rises nearly 4% on allotment of NCDs worth Rs 150cr to CDC Emerging Markets

The company board at its meeting held on February 15 has allotted 1500 senior, secured non-convertible debentures having face value of Rs 10 lakh each for cash at par to CDC Emerging Markets, on private placement basis.

 
 
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Shares of Future Consumer rose nearly 4 percent intraday Friday as company allotted debentures worth Rs 150 crore.

The company board at its meeting held on February 15 has allotted 1500 senior, secured non-convertible debentures having face value of Rs 10 lakh each for cash at par to CDC Emerging Markets, on private placement basis.

CDC Emerging Markets is an arm of CDC Group Plc, UK's Development Finance Institution.

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Also, the company has joined hands with CDC Group plc to raise Rs 200 crore through non-convertible debentures (NCDs) primarily.

This NCDs is having seven year tenure and will be used to finance capex, long -term working capital and support the growth of the business, company said in release.

Kishore Biyani, Vice Chairman of Future Consumer said: “We are pleased to be associated with an esteemed institution like CDC, which is the world’s oldest Development Finance Institution (DFI).”

“As an integrated farm to plate company, we at Future Consumer responsibly impact the life of farmers, producer groups, consumers and every stakeholder in our ecosystem. We along with CDC plan on working towards furtherance of this agenda,” he added.

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At 09:44 hrs Future Consumer was quoting at Rs 62.80, up Rs 1.65, or 2.70 percent on the BSE.

Posted by Rakesh Patil
First Published on Feb 16, 2018 09:54 am
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