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Pantaloons Fashion to raise Rs 1,000 crore via NCDs
12
Jan '15
Pantaloons Fashion & Retail, part of Kumarmangalam Birla led Aditya Birla Nuvo Ltd, will raise Rs 1,000 crore through issue of non-convertible debentures on a private placement basis.

In a BSE filing, it said, "The Board of Directors 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 added that funds will be raised, subject to the approval of its shareholders, which will be done through a postal ballot.

Earlier in July 2014 in a BSE filing, Pantaloons which manages 75 lifestyle stores across India had said it plans to raise up to Rs 500 crore, through different means.

Of the Rs 500 crores, Pantaloons proposed to raise up to Rs 300 crore through a rights issue to its eligible shareholders. (AR)

Fibre2fashion News Desk - India

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