Pantaloon promoters pledge shares

Future Group firm Pantaloon Retail today said 12 of its promoters, including Managing Director Kishore Biyani, have pledged 3.10 crore shares representing a 19.49 per cent stake in the firm.

In a disclosure to the Bombay Stock Exchange, Pantaloon said Biyani, who is also CEO of Future Group, has pledged 11.30 lakh shares or 0.71 per cent stake in the retail entity.

Another promoter group firm Pantaloon Industries, has pledged 5.70 per cent stake consisting 90.76 lakh shares in the company.

At the end of December quarter, 15 promoters held a total of 46.50 per cent stake in Pantaloon Retail, including Kishore Biyani's 5.15 per cent, as per information on the BSE website.

Further, 10 other promoters -- including Gopikishan Biyani (1.32 per cent), Vijay Biyani (1.73 per cent), Sunil Biyani (1.41 per cent), PFH Entertainment (2.67 per cent) and Manz Retail (2.51 per cent)-- have pledged the remaining 13.08 per cent stake to the lenders.

Calculated on today's market price of Pantaloon Retail, the pledging would have fetched the promoters about Rs 547 crore.

Shares of Pantaloon Retail closed at Rs 176.30, up 7.47 per cent on the BSE.