Future Retail rights issue closes on Thursday

The rights issue of Kishore Biyani-promoted Future Retail and its DVR (differential voting rights shares) will close on Thursday. The company, which plans to raise ₹1,600 crore through the issue, had announced a ratio of 5:8 – five shares for every eight shares held in the company. While normal shares were offered at ₹103, DVRs were priced at ₹50.25 a share. The company plans to reduce its debt through the funds. Response from shareholders will be keenly watched.