Pantaloon Retail prices QIP issue at Rs 316

Pantaloon Retail (India) Ltd has announced that the Committee of Directors (CoD) of the Company at its meeting held on November 23, 2009 has determined November 23, 2009 to be the issue closing date and Rs. 316.00 per equity share to be the issue price pursuant to the qualified institutions placement of the equity shares. The Committee has also approved the Placement Document in respect of the equity shares proposed to be issued as aforesaid. The Company proposes to issue 15,822,200 equity shares of face value of Rs. 2 each to raise aggregate proceeds of Rs. 499.98 Crores.

The stock closed the day at Rs.333.55, down by Rs.1.70 or 0.51%. The stock hit an intraday high of Rs.339.90 and low of Rs.328.05.

The total traded quantity was 67356 compared to 2 week average of 154458.

Source : Equity Bulls

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