The board, at its meeting held on Saturday, also approved "the allotment of total 396,03,960 equity warrants at a price of Rs 505 per warrant to Future Coupons Private Limited
Future Group also has plans to invest Rs 350 crore to open 140 exclusive outlets in the next two years.
The rating agency has also reaffirmed rating for the company's proposed commercial paper at BWR A1+
FCL is broadly engaged in marketing and distribution of corporate gift cards, loyalty cards and reward cards to corporate customers.
We have to become a cost leader in whatever we do. And derive more from less, says Kishore Biyani
Future Retail, Future Enterprises and Future Consumer have rallied more than 5% on the BSE.