In order to take the fullest advantage of the retail boom in India, both Pantaloon Retail (India) Ltd and National Textile Corporation Ltd (NTC) are planning to sign accords of joint ventures.
The proposed JVs, would take over the retail business as a standalone venture. NTC has already joined hands with several private sector players, including Alok Industries, Bhaskar Industries to leverage its land holdings.
Pantaloon Retail (India) Ltd has approved joint venture with National Textile Corporation Ltd (NTC) for modernization and development of Gold Mohur Mills at Dadar, Mumbai and Apollo Mills in Mumbai.
The company also granted consent for segregation of Fashion and Sports business of the Joint Venture entity Planet Retail Holdings Pvt Ltd by demerger of Sports business into the demerged entity that is Planet Sports Retail Pvt Ltd also approved divestment from Fashion business after retaining a minority holding and increasing holding in demerged Sports business.
Pantaloon Retail India Ltd
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