Pantaloons gets shareholders nod to raise Rs 1,000 cr via NCDs

Pantaloons Fashion & Retail today said it has received approval of shareholders to raise Rs 1,000 crore through non-convertible debentures (NCDs) on a private placement basis.
"Resolution as set out in the postal ballot notice approving issuance of NCDs of up to Rs 1,000 crore on private placement basis has been duly approved by the shareholders with requisite majority," Pantaloons Fashion & Retail said in a BSE filing.
Last month, the company, which is part of Kumar Mangalam Birla-led Aditya Birla Nuvo Ltd (ABNL), had said it plans to raise up to Rs 1,000 crore on private placement basis, in one or more tranches.