Board of Pantaloons approves fund raising of up to Rs 500 crore including rights issue

At meeting held on 18 July 2014

Pantaloons Fashion & Retail announced that the Board of Directors of the Company at its meeting held on 18 July 2014, has approved raising of funds for an amount not exceeding Rs. 500 crore through various means, subject to receipt of necessary approvals (including any regulatory approvals and approval of the Company's shareholders). Out of the aggregate amount of Rs. 500 crore, up to Rs. 300 crore is proposed to be raised through issue of equity shares of the Company to its eligible shareholders on a rights basis in accordance with the provisions of Companies Act, 2013, Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable laws (the Rights Issue).

The Board has also approved and duly constituted a committee of directors to decide and approve the terms and conditions of the Rights Issue, including the rights entitlement ratio, issue price, record date, timing of the Rights Issue and other incidental matters and to take such further actions as may be required in this regard.

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