Pantaloon Retail seeks EGM approval for raising Rs 1000 crore

Pantaloon Retail (India) Ltd has announced that as per the resolutions passed at the Board Meeting held on June 08, 2009, an Extraordinary General Meeting (EGM) of the Company will be held on July 07, 2009, for obtaining shareholders approval for the issuance of securities to various investors by various means including public / private offerings and / or qualified institutional placement and / or on preferential allotment basis or any combination thereof under the applicable provisions of SEBI (Disclosure and Investor Protection) Guidelines, 2000 upto an amount not exceeding Rs 1000 crores in one or more tranches.

The stock was trading at Rs.325, up by Rs.5 or 1.56%. The stock hit an intraday high of Rs.329.90 and low of Rs.315.

The total traded quantity was 17173 compared to 2 week average of 253103.

Source : Equity Bulls

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