The board of directors of Pantaloon Retail (India), which met today, approved a proposal of warrant conversion by Kishore Biyani.According to a release issued by the company to the BSE today, Biyani, managing director of Pantaloon Retail, has exercised the option of conversion of 4,08,165 warrants into 4,08,165 equity shares."The board approved the conversion, and allotted 4,08,165 fully paid equity share," the release added.According to the shareholding pattern for the quarter ended September 30, 2005 available on the BSE site, Kishore Biyani and Kishore Biyani - HUF held 5,50,578 shares.The stock closed at Rs 1,498 on the BSE today.
