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Kishore Biyani's FMCG company Future Consumer is planning to raise ₹350 crore from existing investors International Finance Corporation (IFC) and Verlinvest, and its promoters.
The money will be used to fund expansion plans and pare debt.
IFC will invest ₹210 crore while Verlinvest SA, an investment arm of the Belgium-based founding families of Anheuser-Busch InBev, will invest ₹70 crore through a preferential allotment of compulsory convertible debentures. Further, the promoters are investing up to ₹70 crore through warrants.
The company also announced the acquisition of the personal care portfolio of Ahmedabad-based therapeutic beauty treatment company Athena Life Sciences through a share swap on a net worth of ₹98 crore.
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