Pantaloons Fashion gains 8% on fund raising plans

The board will meet on July 18, 2014, to consider the fund raising proposal(s) for the company, including rights issue.

Pantaloons Fashion & Retail has surged 8% to Rs 129 in early morning trades on National Stock Exchange (NSE) after the company announced the fund raising plans including rights issue.

A meeting of the board of directors of the company will be held on July 18, 2014, inter-alia to consider the fund raising proposal(s) for the company, including rights issue, Pantaloons Fashion & Retail said in a statement.

The stock opened at Rs 120 and touched high of Rs 130 so far. A combined around 9,000 shares changed hands on the counter on the NSE and BSE.