India's Pantaloon to ask shareholders to approve possible issue of up to Rs. 2.6 billion convertibles

By Angela McDaniels

Seattle, Sept. 1 - Pantaloon Retail India Ltd. said it may issue up to Rs. 2.6 billion of convertible debentures, according to a company news release.

The debentures may be fully or partly convertible and may be sold with detachable warrants.

The company will seek shareholder approval at an extraordinary general meeting on Sept. 22 for the offering, which may be sold as equity shares, convertible securities with or without detachable warrants, fully convertible debentures or partly convertible debentures.

Mumbai, India-based Pantaloon owns and operates retail stores including department stores, malls, supermarkets and clothing stores.

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