Pantaloon raises Rs 200 cr from Bennett, Coleman & Co

Mumbai: Pantaloon Retail (India) has raised Rs 200 crore from Bennett, Coleman & Co Ltd (BCCL) through issue of shares on preferential basis.

In a filing to the BSE, Pantaloon Retail said it has “made allotment of 81,63,265 equity shares of Rs 2 each at a premium of Rs 243 per share to Bennett, Coleman & Co Ltd, a Private Investor…on a preferential basis.”

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The company said after the transaction, the paid-up capital of the company has increased from Rs 44.68 crore to Rs 46.32 crore, comprising 21.57 crore equity shares of Rs 2 each and 1.52 crore Class B (Series 1) shares of Rs 2 each.

Shares of the company today closed 7.90 per cent up at Rs 163.15 apiece on the BSE.

Debt-ridden Future group, of which Pantaloon Retail is the flagship company, is in the process of divesting stake in its non-core businesses.

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Earlier this week, it had announced selling of 53.67 percent stake in Future Capital Holdings to US-based private equity Warburg Pincus to raise an estimated Rs 560 crore.

In April, the Kishore Biyani-led group had announced that Aditya Birla Nuvo will infuse Rs 1,600 crore into ‘Pantaloon’ and will acquire a majority stake in the store chain, which will later be listed as a separate entity.

PTI