Pantaloon Retail today said promoters will infuse Rs 400 crore in the company in lieu of convertible warrants issued to them.
The warrants would be issued to promoters’ group company, Future Ideas Realtors India Ltd, Pantaloon Retail (India) Ltd said in a filing to the Bombay Stock Exchange.
The shareholders of the company, at its meeting held today, approved allotment of one crore convertible warrants from “time to time” at Rs 400 a piece aggregating to Rs 400 crore, it added.
The option to acquire equity shares could be exercised by the warrant holders at any time within 18 months from the date of allotment of warrants.
Source: PTI
