Future Retail allots shares worth Rs 92.71-cr to promoter grp

Homegrown retailer Future Retail Ltd has alloted 1.34 crore class B shares aggregating to Rs 92.71 crore to promoter group firm Future Corporate Resources Ltd.
"The committee of directors of the company at their meeting held on July 6, 2015, have made allotment of 1,34,98,300 Class B (Series 1) shares of Rs 2 each at a premium of Rs 66.69 per share aggregating Rs 92.71 crore to Future Corporate Resources Ltd (FCRL)," Future Retail said in a BSE filing.
It further said that allotment was made to FCRL "being a company within the promoter group, on exercise of option on balance Class B warrants allotted to them, on receipt of balance amount payable on such number of warrants".

Consequently, the paid-up capital of the company has increased from Rs 82.83 crore to Rs 85.53 crore.
Shares of Future Retail closed at Rs 86.50 apiece, up 1.17 per cent from their previous close on the BSE.