Pantaloon intends picking Draper`s 11% share of Indus League
02 Mar '06
1 min read
Pantaloon Industries Ltd, intends acquiring 11 per cent shares of Indus League held by Draper India International.
It already owns 67 per cent shares of the apparel company Indus League.
Pantaloon has put up a proposal to issue Draper India International 19,39,790 Cumulative Redeemable Preference Shares (with 1 per cent coupon rate) of Rs 20 each in return for its 11 per cent share in Indus League.
Indus League owns brands like Indigo Nation, Scullers, Ironwood and Jealous. Last year it has launched Urban Yoga, a brand of yoga wear, yoga mats and bags
Indus League Clothing Ltd was started in 1999 by Sriram Srinivasan, the former President of Madura Garments.
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