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Company Update: Pantaloon Retail

Company Update: Pantaloon Retail
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First Published: Wed, Aug 19 2009. 10 29 AM IST
Updated: Wed, Aug 19 2009. 10 29 AM IST
The Future Group subsidiary Pantaloon Retail is planning to raise up to Rs500 crore by offloading its non-core assets, as part of its restructuring plans.
The company would float a special purpose vehicle (SPV) to raise funds and to ensure that its restructuring plans are compliant with foreign direct investment (FDI) policy guidelines.
At present, FDI is prohibited in multi-brand retailing, and only 51% FDI is allowed in single-brand stores. We maintain our NEUTRAL view on the stock.
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First Published: Wed, Aug 19 2009. 10 29 AM IST
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