Pantaloon Retail (India)’s board of directors approved a proposal to raise equity funds of up to Rs 1,500 crore. The board has told the company to restrict equity dilution to a maximum of 15%, and to limit its debt to equity ratio to 1.33 times. Pantaloon has postponed its annual general meeting from 22 October to 10 November, giving it time to seek permission for the equity issue from its shareholders in the AGM itself.
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