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Aditya Birla Nuvo to invest Rs 1,600 crore in Pantaloon stores

A deal between the Pantaloon and Aditya Birla Nuvo is about to emerge where the latter will infuse Rs 1,600. In a statement issued by PRIL, they will invite an investment from Aditya Birla Nuvo by demerging entity from PRIL, but still with necessary approvals. The good thing with the investment of ABNL is that they will also take care of the debt of Pantaloon which amounts to Rs 800 crore.

Pantaloons Logo

Pantaloons Retail India

According to Kumar Mangalam the Chairman of ABNL , this development in the relationship of the two company is part of their plan to become the top provider of branded fashion clothing in the country. The transaction that needs to be done by both the company will be completed in about 10 months.

Nuvo Logo Aditya Birla

Aditya Birla - Nuvo

The Pantaloon format has become popular in the country where it spread in about 35 cities and had build up a 65 stores so far. They also have around 21 factories that handle the production of their products.

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