Kishore Biyani-promoted Pantaloon Retail India today said its shareholders will meet July 7 to approve the raising of additional long-term funds to the tune of Rs 1,000 crore through securities.
An extraordinary general meeting would be held on July 7, for obtaining shareholders' approval for raising funds through issuance of equity-based securities to investors by various means, including public or private offerings or qualified institutional placement, Pantaloon said in a filing to the Bombay Stock Exchange.
Earlier this month, the board of directors had approved the said fund-raising proposal.
The amount, not exceeding Rs 1,000 crore, may be raised in one or more tranches.
Shares of Pantaloon were trading at Rs 318.40, down 0.40 per cent on the BSE.