Kishore Biyani is speeding up the process to raise funds to meet debt obligations after the Bombay High court granted interim relief to Future Retail by restraining IDBI Trusteeship Services from selling pledged shares, people aware of the development told CNBC-TV18.

Shares of Future Group companies have been falling in the range of 50-70 percent since the beginning of the year owing to concerns about the companies’ debt as well as the coronavirus outbreak that has forced the ongoing 21-day lockdown in the country.

The total debt of Future Group's listed companies stands at Rs 12,778 crore.

These factors are forcing Biyani to look at a combination of short-term loans as well as stake dilution in companies to raise funds.

Future Group is in talks with private equity players as well as bankers to raise some financing. "The group has been reaching out to existing as well as other global private equity investors. There are a variety of options on the table and negotiations are on at this stage," a person aware of the development told CNBC-TV18.

As an immediate requirement, the company is looking to raise anywhere between Rs 1,500-2,000 crore. "The company may look to raise as much as possible at this point to avoid doing multiple roadshows or negotiations," said an investment banker.

There are multiple avenues that Future Group has been looking for monetisation. One of the means that the company is exploring at this point is promoter stake dilution in companies like Future Retail and Future Enterprises. It is also reviving talks to sell stake sale in Future Generali insurance business, said sources.

Promoters are also looking at options to raise fresh capital via equity or debt. Future group did not respond to a CNBC-TV18 query.

First Published:Mar 31, 2020 1:07 PM IST