Future Consumer Limited (BSE:533400) announced a private placement of compulsory convertible debentures and warrants on preferential basis for gross proceeds of INR 3,500,000,000 on April 7, 2019. The company will issue debentures for gross proceeds of INR 2,800,000,000. The debentures have a face value of INR 100,000. The transaction will include participation from returning investor Verlinvest S.A. for 7,000 compulsorily convertible debentures for gross proceeds of INR 700,000,000 and from returning investor International Finance Corporation for 21,000 compulsorily convertible debentures for gross proceeds 2,100,000,000. The debentures are convertible into common shares of the company at fixed conversion price of INR 45.02 per common share for a period not exceeding 18 months from the date of issue. The company will issue warrants for gross proceeds of INR 700,000,000. The warrants will be allotted to promoters and promoter group entities. The warrants to be issued will be exercisable into shares at conversion price of INR 45.02 per common share of the company within 18 months from the date of issue. The transaction has been approved by the board of directors of the company. The transaction is subject to approval from shareholders of the company at an extra ordinary general meeting.