Shares of Future Enterprises were locked in 5 per cent upper circuit at Rs 19.25 on the BSE on Thursday ahead of its board meeting on Saturday.

Shares of Future Enterprises had touched a 52-week low of Rs 7.55 apiece in April 2020. The stock price has since then jumped 155 per cent, lifting the market capitalisation of the company to Rs 951 crore.

Other companies of the group also saw a rise in the intraday trade today.Future Retail (FRL) surged 7 per cent at Rs 125.60 while Future Lifestyle Fashions jumped 4.7 per cent to Rs 137.85. Future Consumer and Future Supply Chain Solutions were also up over 2 per cent each.

The company told the exchanges on Wednesday that the board meeting is to "evaluate proposals to raise funds by way of issuance of bonds including debentures / non-convertible debt instruments / securities and/or any other instruments / securities including through private placement or through any other permissible mode or any combination thereof, as may be decided by the Board and subject to such statutory / regulatory approvals as may be necessary, including the approval of the shareholders of the Company, wherever required."

Kishore Biyani-led group has over 1,700 supermarkets and lifestyle stores including Big Bazaar and Central among others. The group is in talks with Reliance Industries to sell out the majority of its stake.