Future Consumer Ltd Board approves Rights Issue of equity shares

The Board of Directors of Future Consumer Ltd ("Board"), have at their meeting held today, i.e. May 16, 2020, considered and approved, raising of funds, up to Rs. 300 Crore, by way of issuing equity shares having face value of Rs. 6/- each of the Company on a rights basis ("Rights Issue") to the eligible equity shareholders of the Company, as on the record date to be determined by the Board (including its duly authorized committee) in due course in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, the Companies Act, 2013 and the rules framed thereunder, and other applicable laws and subject to receipt of relevant approval from any regulatory authority, as may be required.

The Board has authorized the Committee of Directors to finalise the terms and conditions of the Rights Issue including the rights entitlement ratio, issue price, record date, payment option, timing of the Rights Issue and other related matters.

Shares of Future Consumer Ltd was last trading in BSE at Rs.8.07 as compared to the previous close of Rs. 7.73. The total number of shares traded during the day was 393648 in over 533 trades.

The stock hit an intraday high of Rs. 8.09 and intraday low of 7.35. The net turnover during the day was Rs. 3005459.

Source : Equity Bulls

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