Among the retail industry pioneers, A Future Group firm, Future Lifestyle Fashions is firming up plans to raise Rs.500 crore from the domestic or overseas market on a private placement basis to bankroll its fashion retail business growth.The company is due to pass a special resolution at its annual general meeting scheduled for 29 August and further the company will also seek shareholder consent for reappointment of Kishore Biyani as the managing director of the company for three years with effect from 25 June.

The funds are to be borrowed in Indian or foreign currency by issue of debt instruments for an amount of up to Rs.500 crore in domestic or overseas market.The funds to be raised will remain within the overall borrowing limit of the company. Visit us for more Retail Industry News