Pantaloon Retail, the country’s largest retailer is planning to mop up Rs 200 crore by issuing shares to Bennett Colemen & Co. The company will issue 8.16 million shares to Benett Coleman at Rs 245 on a preferential basis.
Consecutively, Bennett’s stake in the company will go up from 2.12% to 5.8% while promoters stake will come down by 1.6% to 43%.
Further, the company is issuing 800 optionally fully convertible debentures (OFCDs) to Aditya Birla Nuvo and its unit Peter England Fashion and Retail to raise Rs 800 crore.
Pantaloon Retail (India) is India’s leading retail chain and part of Indian conglomerate Future Group. It operates retail space spread over 11 million square feet. It has a network of more than 1000 stores across 63 cities in India and has employee strength of 30,000 people.
