Future Lifestyle get shareholders nod to raise Rs 300 crore

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Future Lifestyle Fashions on August 26 informed that it has got shareholders' approval to raise Rs 300 crore by issuing equity shares to Apollo India Private Equity IV (Mauritius) on a preferential basis.

The company has received approval to issue 64.79 lakh equity shares of face value of Rs 2 each at an "issue price of Rs 463/- per Equity Share (including premium of Rs 461/- per Equity Share) on preferential basis" to Apollo India, in an Extra ordinary general meeting held on August 26.

The proposal was passed by 99.99 percent votes in favour on votes polled, said a regulatory filing.

Besides, it also get approval to increase in limits for making investments, giving loans and guarantees or providing security.