Morgan Stanley picks up 26.7 lakh shares of Pantaloons

MUMBAI: Foreign fund house Morgan Stanley Asia (Singapore) today picked up nearly 26.7 lakh shares of clothing retail firm Pantaloons for a little over Rs 32 crore through the open market route.

A total of 26,68,655 shares of Pantaloons were acquired by Morgan Stanley at an average price of Rs 120.18 apiece, according to bulk deal information with the bourses.

In a separate transaction, Macquarie Bank has offloaded 16.12 lakh shares of Pantaloons for about Rs 19.17 crore.

Pantaloons for the quarter ended June 30 reported revenue of Rs 386 crore. At present, there are about 83 Pantaloons stores operational in the country.

In 2012, Aditya Birla Nuvo Ltd had entered into an agreement with the Future Group to infuse Rs 1,600 crore into Pantaloons and had acquired a majority stake in the store chain.

Shares of Pantaloons dipped 2.34 per cent to settle for the day at Rs 121.10 apiece on the BSE.