Pantaloon Retail allots one crore warrants to promoters
Moneylife Digital Team 29 June 2010

Pantaloon Retail (India) Ltd on Tuesday said it has allotted one crore warrants to its promoters' group company, Future Ideas Realtors India Ltd.

The company's committee of directors has allotted 1 crore warrants at Rs400 per share, aggregating to Rs400 crore to Future Ideas Realtors India, Pantaloon Retail said in a filing to the Bombay Stock Exchange.

The company has allotted shares of the face value of Rs2 each, at a premium of Rs398 per share, aggregating to Rs400 each. It, however, did not give details regarding reasons for allotment of the warrants. Pantaloon Retail is the flagship company of Future Group.

The group's chief promoter Kishore Biyani had last year said that it aims to be a Rs25,000 crore entity by 2013-14, up from around Rs10,000 crore last year. He had also said that the group aims to add 18 million sq ft of retail space by end of the period.

On Tuesday, Pantaloon Retail shares declined 1.9% to Rs414.5 on the BSE, where the benchmark Sensex also declined 1.4% to 17534 points.

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