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 |