Pantaloon to raise fund via securities

Kishore Biyani-led Pantaloon Retail is looking to raise funds through issue of securities, the retailer informed the Bombay Stock Exchange (BSE) on Thursday.

Kishore Biyani-led Pantaloon Retail is looking to raise funds through issue of securities, the retailer informed the Bombay Stock Exchange (BSE) on Thursday.

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The company will issue 81,63,265 equity shares of Rs.2 each at a price of Rs.245 per share aggregating to Rs.200 crore.

Further, the company has proposed to change the name of the company to Future Retail India Limited after it sold its majority stake in its apparel business ‘Pantaloons’ to Aditya Birla Nuvo, a unit of the Aditya Birla Group.

The other brands that come under Pantaloon Retail, the listed entity, include Big Bazaar, Home Town, Central, eZone and others.