Future Enterprises : Defaults on Payment of Interest/Principal
January 04, 2023 at 05:48 am EST
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January 4, 2023
To,
Listing Department
Corporate Relationship Department (CRD)
BSE Limited,
National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,
Exchange Plaza, Bandra - Kurla Complex,
Dalal Street,
Bandra (East),
Mumbai - 400 001
Mumbai - 400 051
Scrip Code: 523574 / 570002
Scrip Symbol: FEL / FELDVR
BSE Scrip Code of Debt: 958501, 958502
ISIN: INE623B07941, INE623B07958
Dear Sir / Madam,
Sub.: Intimation under Regulation 51(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 [SEBI (LODR)] - Default in Payment of Interest due on Non-Convertible Debentures (NCDs)
The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures was due on January 3, 2023.
S. No.
Type of disclosure
Details
1.
Name of the Listed entity
Future Enterprises Limited
2.
Date of making the disclosure
January 4, 2023
3.
Nature of obligation / Type of instrument
Rated, Listed, Secured, Redeemable, Non-
(Listed debt securities, MTNs, FCCBs etc. with
Convertible Debentures
ISIN as applicable)
Series XXV - A and XXV - B
ISIN: INE623B07941, INE623B07958
4.
Number of investors in the security as on
1 in both Series i.e. XXV - A and XXV - B
date of default
5.
Date of default
January 3, 2023
6.
Details of the obligation (tenure, coupon,
Tenure: Interest obligation shall commence from
secured/unsecured, etc.)
the Deemed Date of Allotment i.e., January 3,
2019 and end on the day falling at the expiry of
March 31, 2023 for series XXV - A and
December 31, 2026 for series XXV - B.
Coupon Rate: 10.50% p.a. for Series XXV - A
and 10.60% p.a. for Series XXV - B.
Coupon Payment Frequency: Yearly basis in
December, each year.
Security: Debentures are secured
Future Enterprises Limited
Regd. Off.: Knowledge House, Shyam Nagar, Off Jogeshwari ‐ Vikhroli Link Road, Jogeshwari (East), Mumbai ‐ 400 060
P +91 22 4055 2200,
www.felindia.in
CIN L52399MH1987PLC044954
S. No.
Type of disclosure
Details
7.
Current default amount (Amount in Rs.)
Interest due: Rs. 79,00,00,000/-
(Please provide the breakup of instalment and
[Period for which Interest was due: 03/01/2022 -
interest)
02/01/2023 - 365 Days]
8.
Total amount of securities issued (in Rs. crore)
Rs. 750 Crore
(Rs. 500/- crore for Series XXV - A and Rs. 250/-
crore for Series XXV - B)
9.
Gross Principal amount on which the default
Rs. 750 Crore
above has occurred (in Rs. crore):
(Rs. 500/- crore for Series XXV - A and Rs. 250/-
crore for Series XXV - B)
Thanking you,
Yours faithfully
for Future Enterprises Limited
Vijay
Biyani
Digitally signed by Vijay Biyani Date: 2023.01.04 15:23:20 +05'30'
Vijay Biyani
Chairman and Managing Director
DIN: 00005827
Centbank Financial Services Limited - Debenture Trustee Central Bank of India - MMO Building,
3rd Floor (East Wing), 55, M.G. Road, Fort, Mumbai - 400 001
Future Enterprises Limited
Regd. Off.: Knowledge House, Shyam Nagar, Off Jogeshwari ‐ Vikhroli Link Road, Jogeshwari (East), Mumbai ‐ 400 060
P +91 22 4055 2200,
www.felindia.in
CIN L52399MH1987PLC044954
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Future Enterprises Limited published this content on 04 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 January 2023 10:47:09 UTC.
Future Enterprises Limited is an India-based integrated fashion business company. The Company is engaged in the business of manufacturing, trading, leasing of assets, logistics services and joint ventures with life and non-life insurance services. The Company provides solutions to general retailers/retail stores and wholesale trading of fast-moving consumer goods products. Its business Future Supply Chain (FCS), which provides information technology enabled end to end supply chain and logistics, such as warehousing, express logistics, cold chain, and e-commerce logistics. Its Future Generali India Insurance business provides solution to customers and enterprises through retail, commercial, personal, and rural product offerings. Its Work Stores Limited is engaged in consumption space of office supplies, office equipment and products. Its subsidiaries include Futurebazaar India Limited, Future Media (India) Limited, Bluerock eServices Private Limited, and Ritvika Trading Private Limited.
FUTURE ENTERPRISES LIMITED 
