India's Pantaloon Retail Ltd said on Monday its board had approved an initial public offer by its unit, Future Capital Holdings, and a separate plan to raise about 12 billion rupees ($291 million) through issue of shares and warrants.
The company said it would raise 2 billion rupees by issuing equity shares to private investors at 500 rupees a share, and raise about 10 billion rupees through an issue of warrants at the same price to owners and select employees.
The board has also approved an investment of 3.35 billion rupees in Pantaloon Future Ventures Ltd, a fully owned subsidiary.
The company said it would raise 2 billion rupees by issuing equity shares to private investors at 500 rupees a share, and raise about 10 billion rupees through an issue of warrants at the same price to owners and select employees.
The board has also approved an investment of 3.35 billion rupees in Pantaloon Future Ventures Ltd, a fully owned subsidiary.
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