Pantaloon Retail allots 4500000 shares at Rs 500 to promoter group

Pantaloon Retail India Ltd has announced that the Committee of Directors (CoD) of the Company at its meeting held on June 26, 2008, have made allotment of 45,00,000 Equity shares of Rs 2/- each at a premium of Rs 498/- per share aggregating Rs 225 Crores to Erudite Trading Pvt Ltd and Chaste Investrade Pvt Ltd, part of the promoter group, on conversion of second tranche of Warrants allotted to them.The stock was trading at Rs.380, up by Rs.4.35 or 1.16%. The stock hit an intraday high of Rs.395 and low of Rs.378.The total traded quantity was 6194 compared to 2 week average of 67956.