Pantaloon Retail India, a Future Group Company promoted by Kishore Biyani, has decided to issue 1.1-crore equity shares to promoters and associates and 41-lakh equity shares to Dharmyug Investments at a price of Rs.183 per share on preferential basis.

Apart from this, the Mumbai based company would also issue 50-lakh warrants at a price of Rs.183 per warrant to promoters and their associates, convertible into equity shares within 18 months of allotment on preferential basis.

Moreover, it also recommended for change of name of company to "Future Markets and Consumer Group" .

It can be recalled that the company had announced its intentions of skim off four of its business entities - which also include Big Bazaar and Food Bazaar - into sovereign ancillaries, thereby keeping open their future prospects of being listed independently.

Pantaloon Retail (India) Limited operates multiple retail formats in both the value and lifestyle segment of the Indian consumer market. The company operates over 12 million square feet of retail space, has over 1000 stores across 71 cities in India and employs more than 30,000 people.Moreover, the company also operates an online portal, futurebazaar.com.