Future Consumer is planning to raise funds around Rs 280 crore through issuance of debentures to Verlinvest SA and the International Finance Corporation (IFC) on a preferential basis.
The objective of the proposed preferential allotment of compulsorily convertible debentures (CCDs) is to utilise the amount for the purpose of repayment of high-cost debt, capital expenditure and working capital requirements and investments in joint ventures and business alliances.
Future Consumer (formerly Future Consumer Enterprise) is a holding company. It is a food company, which is engaged in branding, marketing, sourcing, manufacturing and distribution of fast moving consumer goods, food and processed food products. It also has agri-sourcing operations in India.