Pantaloon soars 22%

Pantaloon Retail India board meeting for mulling over the restructuring of the company's business and raising funds through equity, its stock soared nearly 22 percent at the Bombay Stock Exchange on Monday, touching an intra-day high of Rs 207.80. The shares of the company - part of the Kishore Biyani-promoted Future Group - were up 16.41 percent at 199 rupees.

In January this year, Pantaloon Retail 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.

According to a Pantaloon Retail a regulatory filing to the stock exchanges last week, the agenda of the proposed board meeting was to deliberate upon the restructuring of its business, "by realigning the business lines as per verticals and considering to create separate legal entities for the same."

The filing also added that, at the meeting, the board of the company would also reflect on the issuance of securities - including issuing shares or warrants, on preferential basis to potential promoters or investors - along with thinking about "changing the name of the company in view of its new structure."