Mumbai: Kishore Biyani-promoted Pantaloon Retail India on Monday said its shareholders will meet on 7 July to approve the raising of additional long-term funds to the tune of Rs1,000 crore through securities.
An extraordinary general meeting would be held on 7 July, for obtaining shareholders’ approval for raising funds through issuance of equity-based securities to investors by various means, including public or private offerings or qualified institutional placement, Pantaloon said in a filing to the Bombay Stock Exchange (BSE).
Earlier this month, the board of directors had approved the said fund-raising proposal.
The amount, not exceeding Rs1,000 crore, may be raised in one or more tranches.
Shares of Pantaloon were trading at Rs318.40, down 0.40% on the BSE.