After signing a Rs 1,600-crore deal with Aditya Birla Nuvo, Pantaloon Retail, the country's largest retailer, today said it will raise Rs 200 crore by issuing shares to Bennett Colemen & Co Ltd.
Pantaloon will issue 8.16 million shares to Benett Coleman at Rs 245 on a preferential basis. After the transaction, Bennett's stake in the company will go up from 2.12% to 5.8% while promoters stake will come down by 1.6% to 43%.
Pantaloon said it will change the name of the company to Future Retail India Limited.
The company also said it is issuing 800 optionally fully convertible debentures (OFCDs) to Aditya Birla Nuvo and its unit Peter England Fashion and Retail to raise Rs 800 crore.
The company's stock went up 1.01% to close the day at Rs 184.85.
