Pantaloon Retail India (PRIL) likely to exit its non-core businesses in order to pare debt and fund growth plans. PRIL aims to sell its stake in Future Capital Holdings within the next four to six months as one of the first steps towards achieving the goal. PRIL has a 55% stake in the financial services arm of the group, Future Capital Holdings.
PRIL is engaged in many other businesses such as textiles and media, which it plans to exit and will become a zero debt company. The company eyes expansion and new acquisition in core businesses from the funds arise from selling the stake. PRIL has reported its debt liability at Rs 4,200 crore as of June 30, 2011 and its debt equity ratio is 1.2:1 at present.
The firm has earmarked Rs 900 crore expenditure over the next three years on 9 million square feet of retail space, which it has already booked across India for expansion.
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| Trent | 4301.35 |
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| PN Gadgil Jewellers | 666.05 |
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