Pantaloons Fashion to raise Rs 1,000 crore

Retail major Pantaloons Fashion & Retail recently revealed plans of raising Rs 1,000 crore through issue of non-convertible debentures on a private placement basis.
Pantaloons Fashion to raise funds

Retail major Pantaloons Fashion & Retail recently revealed plans of raising Rs 1,000 crore through issue of non-convertible debentures on a private placement basis, says aPTI report.

The company told PTI while BSE filing, ‘The Board of Directors of the company at its meeting held on January 7, 2015, has approved issuance of non-convertible debentures (NCDs) of up to Rs 1,000 crore on private placement basis, in one or more tranches.’

Kumar Mangalam Birla-led Aditya Birla Nuvo Ltd (ABNL) owned Pantaloons Retail  told PTI that fund raising will be subjected to the approval of its shareholders which would be obtained by way of Postal Ballot.

In July 2014, the company had shared its plans to raise Rs 500 crore through various means out of which 300 crore was through rights issue.

Besides, shares of the company were closed at Rs 119 apiece, up 0.85 per cent from their previous close on the BSE.

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