Pantaloon Retail Board approves fund raising
Pantaloon Retail Board approves fund raising >The board of directors of Pantaloon Retail (Q, N,C,F)* India, at its meeting held on Sep. 26, 2007, permitted Future Ventures India for raising around Rs 20 billion through private placement and initial public offering (IPO) of equity shares and/or convertible instruments into equity shares. Further the board recommended a dividend of Rs 0.50 (25%) an equity share.
Pantaloon Retail (India) has disclosed a steady growth in net profit for the quarter ended March 2007. During the quarter, the company saw a 15.25% rise in profit to Rs 187.15 million from Rs 162.38 million in the same quarter last year.
Sales for the quarter rose 89.08% to Rs 8,610.46 million compared with the corresponding quarter, a year ago.
Shares of the company gained Rs 1, or 0.19%, to settle at Rs 540.25. The total volume of shares traded was 107,103 at the BSE.(Wednesday)
