Pantaloon Retail allots one crore warrants to promoters | business | Hindustan Times
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Pantaloon Retail allots one crore warrants to promoters

Pantaloon Retail today said it has allotted one crore warrants to its promoters' group company, Future Ideas Realtors India Ltd.

business Updated: Jun 29, 2010 15:45 IST

Pantaloon Retail on Tuesday said it has allotted one crore warrants to its promoters' group company, Future Ideas Realtors India Ltd.

The company's committee of directors has allotted one crore warrants at Rs 400 a piece, aggregating to Rs 400 crore to Future Ideas Realtors India, Pantaloon Retail (India) Ltd said in a filing to the Bombay Stock Exchange.

The company has allotted shares of the face value of Rs 2 each, at a premium of Rs 398 a piece, aggregating to Rs 400 each.

It, however, did not give details regarding reasons for allotment of the warrants. Pantaloon Retail is the flagship company of Future Group.

The group's chief promoter Kishore Biyani had last year said that it aims to be a Rs 25,000 crore entity by 2013-14, up from around Rs 10,000 crore last year. He had also said that the group aims to add 18 million sq ft of retail space by end of the period.