Pantaloon Retail India is planning to raise additional long term funds to the tune of Rs 1,000 crore by issuing securities to various investors by various means, including public or private offerings or qualified institutional placement (QIP).
The board of directors of the company has approved the fund raising plan through issuance of equity based securities to various investors.
The amount, not exceeding Rs 1,000 crore, may be raised in one or more tranches, company officials announced.
Pantaloon will hold an extra ordinary general meeting (EGM) of its members to seek their approval for the same.
Moreover, it is also considering merging its subsidiary firm Home Solutions Retail (India) to get better synergy and efficiency in the retail business.