The company, which is part of Kumar Mangalam Birla-led Aditya Birla Nuvo Ltd (ABNL), added that fund raise will be subject to the approval of its shareholders which would be obtained by way of Postal Ballot.
Pantaloons Fashion & Retail on Wednesday said it will raise Rs 1,000 crore through issue of non-convertible debentures on a private placement basis.
"The Board of Directors of the company at its meeting held on January 7, 2015, has approved issuance of non-convertible debentures (NCDs) of up to Rs 1,000 crore on private placement basis, in one or more tranches," Pantaloons Fashion & Retail said in a BSE filing.
The company, which is part of Kumar Mangalam Birla-led Aditya Birla Nuvo Ltd (ABNL), added that fund raise will be subject to the approval of its shareholders which would be obtained by way of Postal Ballot.
In July 2014, Pantaloons had announced plans to raise up to Rs 500 crore through various means, including a rights issue. The company had also said that it proposes to raise up to Rs 300 crore through the rights issue. The company operates over 75 stores across the country.
Shares of the company closed at Rs 119 apiece, up 0.85 per cent from their previous close on the BSE.
Pantaloons Fash stock price
On January 06, 2015, Pantaloons Fashion & Retail closed at Rs 118.75, up Rs 0.75, or 0.64 percent. The 52-week high of the share was Rs 144.65 and the 52-week low was Rs 80.10.
The latest book value of the company is Rs 62.39 per share. At current value, the price-to-book value of the company was 1.90.
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