Pantaloon Retail to issue 1 crore warrants at Rs 400

Pantaloon Retail (India) Ltd has announced that the Board of Directors of the Company at its meeting held on May 31, 2010, inter alia, approved, subject to the approval of the members of the Company, issuance of 1,00,00,000 Warrants at a price of Rs. 400/- per Warrants aggregating to Rs. 400,00,00,000/- to one of the Promoter Group entity with an option to the Warrant holders to acquire same number of equity shares within a period of 18 months pursuant to provisions of Chapter VII of Securities & Exchange Board of India (issue of Capital & Disclosure Requirements) Regulations, 2009 relating to Preferential issues.

An Extraordinary General Meeting of the Company will be held on June 28, 2010 for obtaining shareholders approval for the matters stated hereinabove.

The relevant date for the pricing of the aforesaid issue is May 29, 2010.

The stock was trading at Rs.397, down by Rs.0.55 or 0.14%. The stock hit an intraday high of Rs.403 and low of Rs.397.

The total traded quantity was 9327 compared to 2 week average of 26831.

Source : Equity Bulls

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