New Delhi: Pantaloon Retail (India) on Friday said Bennett, Coleman & Co Ltd (BCCL) has raised its stake in the company to 5.83 percent through a preferential purchase of equity shares. (Agencies)
In a filing to the BSE, Pantaloon Retail said BCCL has picked up 81,63,265 additional shares in the Future Group firm that represent a 3.79 percent stake.
Post this acquisition, BCCL's stake in the company will go up to 5.83 percent representing 1,25,66,477 equity shares, it added.
Shares of Pantaloon on Friday closed 0.48 percent up at Rs 167.05 apiece on the BSE.
Earlier this week, Pantaloon had said it raised Rs 200 crore from BCCL through issue of shares on a preferential basis. It had alloted shares of Rs 2 each at a premium of Rs 243 per share to BCCL on a preferential basis.
After the transaction, the paid-up capital of the retail major increased from Rs 44.68 crore to Rs 46.32 crore, comprising 21.57 crore shares of Rs 2 each and 1.52 crore Class B (Series 1) shares of Rs 2 each, the company had said.
Debt-ridden Future group, of which Pantaloon Retail is the flagship company, is in the process of divesting stake in its non-core businesses.
Earlier this week, it had announced selling of 53.67 per cent stake in Future Capital Holdings to US-based private equity Warburg Pincus to raise an estimated Rs 560 crore.
In April, the Kishore Biyani-led group had announced that Aditya Birla Nuvo will infuse Rs 1,600 crore into 'Pantaloon' and will acquire a majority stake in the store chain, which will later be demerged to be listed as a separate entity.
New Delhi: Pantaloon Retail (India) on Friday said Bennett, Coleman & Co Ltd (BCCL) has raised its stake in the company to 5.83 percent through a preferential purchase of equity shares.