Pantaloon to raise Rs500 crore via QIP route

Pantaloon Retail (India), the Kishore Biyani-led company, said on Friday that it would raise Rs500 crore by way of private placement of shares with qualified institutional buyers.

Earlier, in July, Pantaloon shareholders had approved raising of funds to the tune of Rs1,000 crore through one or more placements of equity shares, fully convertible debentures or any securities (other than warrants) which are convertible into equity shares, the company said ina filing with the Bombay Stock Exchange (BSE).