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Pantaloons to invest USD19m this fiscal, add up to 35 stores in India

Indian retail chain Pantaloons plans to invest INR125 crore (INR1.25 billion, USD19.1 million) this fiscal as it plans to add up to 35 stores across the country.

In May, in a major restructuring exercise, Aditya Birla Group announced merger of all its branded apparel businesses into one entity, Aditya Birla Fashion and Retail Ltd.

Under the scheme of arrangement, the apparel businesses of group holding company Aditya Birla Nuvo and of another group firm Madura Garments Lifestyle Retail would be demerged into listed firm Pantaloons Fashion & Retail Ltd (PFRL).

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