Future Consumer Limited — Important, 16-11-2024: Updates

Future Consumer Limited has disclosed a default in servicing its obligations for unlisted Non-Convertible Debentures issued to CDC Emerging Markets Limited. As of November 15, 2024, the total default amounts to ₹135.29 crore for principal and ₹46.27 crore for interest, resulting from accumulated missed payments. The debentures, which have an 11.07% annual coupon rate, were issued with a total value of ₹200 crore and a tenure of 7 years, maturing in February 2025. This significant financial strain may impact the company's liquidity and operational capacity moving forward, warranting close scrutiny by investors. The default reflects broader financial challenges faced by the company amid rising indebtedness, which totaled ₹499.41 crore as of September 30, 2024.