Future Enterprises plunges 5% after defaulting on Rs 6 crore interest payment for NCDs

New Delhi: The shares of debt-ridden Future Enterprises declined by 5 per cent to Rs 2.66 in Wednesday’s early trade after the company defaulted on the payment of interest of Rs 6.07 crore for its non-convertible debentures.

The company informed the exchanges about being unable to service its obligations with respect to the interest on non-convertible debentures. The due date for the payment was June 20, 2022.

The Kishore Biyani-led Future Group firm has defaulted on several payments in the last few months. The latest default is on the interest of securities issued for a sum of Rs 1.41 crore.


FEL has defaulted on interest payment for the period December 20, 2021, to June 19, 2022, the debentures are secured and have a coupon rate of 10.15 per cent per annum.

At 11:15 am, the stock traded at Rs 2.80 around 2 per cent above its previous close of Rs 2.65.

In April, FEL had informed the exchanges about a default of Rs 2,835.65 crore towards its consortium of banks. Its due date was March 31, 2022.

The scrip gave a negative 3-year return of 92.12 per cent.