Recommending a dividend of Rs 0.59 ( 25%) per equity share, Pantaloons board, which approved its financial results at a meeting held on Wednesday, also approved raising of funds to the tune of Rs 2,000 crore for its subsidiary Future Ventures India Ltd. The funds will be raised through an IPO and private placement.
During the quarter ended June 30, 2007 the company has opened 31 stores, while the retail space of the company has increased from around 4.50 million sq ft to around 5.20 million sq ft during the quarter.
With 5.5 million sq ft of retail space, Pantaloon Retail (India) Ltd is one of Indias largest retailers operating in 42 cities across India. Headquartered in Mumbai, the company operates primarily in the lifestyle and value formats through multiple delivery formats and lines of business. These include fashion, food, general merchandise, home, leisure and entertainment, financial services, communications and wellness.
The company caters to the lifestyle segment through its 31 Pantaloons stores and four central malls, as well as its other concepts. In value retailing, it is present through 68 Big Bazaar hypermarkets and 100 Food Bazaars, and other delivery formats.