Home Retail Pantaloon Retail promoters to infuse Rs 400 crore

    Pantaloon Retail promoters to infuse Rs 400 crore

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    today said promoters will infuse Rs 400 crore in the company in lieu of convertible warrants issued to them.

    Aditya Birla Fashion & Retail posts Rs 109 crore loss for Q4
    Besides, the company's board has approved acquisition of online and offline rights of global brand Forever 21 for the Indian market.

    The warrants would be issued to promoters’ group company, Future Ideas Realtors India Ltd, Pantaloon Retail (India) Ltd said in a filing to the Bombay .

    The shareholders of the company, at its meeting held today, approved allotment of one crore convertible warrants from “time to time” at Rs 400 a piece aggregating to Rs 400 crore, it added.

    The option to acquire equity shares could be exercised by the warrant holders at any time within 18 months from the date of allotment of warrants.

    Source: PTI