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Business Daily from THE HINDU group of publications Wednesday, December 2, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Update at 1515 hrs (IST)
Marketing Pantaloon plans Rs 360-cr capex this fiscal MUMBAI: Pantaloon Retail India Ltd (PRIL) plans to spend Rs 360-crore in the remainder of this fiscal, to add up to 2.4-million sq ft of retail space to existing operations. “We have a capex plan of Rs 360-crore to add up 2.4- million sq ft of retail space...that is in the Pantaloon Retail balance-sheet and not the subsidiaries. That’s the plan for the balance 7-8 months (of this financial year),” Pantaloon Retail India Ltd’ s Managing Director, Kishore Biyani, told reporters after the company’s 22nd AGM here. The company, a part of the diversified Future Group, begins its financial year in July. While the Future Group operates 15-million sq ft of retail space across India, Pantaloon Retail with its multiple lifestyle and value chains runs around 13-million sq ft. Pantaloon Retail is also looking to hive-off its value retail chain - Big Bazaar- into a separate subsidiary, which may eventually go for an initial public offer (IPO). “We are looking at subsidarisation of Big Bazaar into a separate company... if we nee d capital, probably we can raise capital (through a public issue),” Mr Biyani said. - PTI
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