Home Solutions Retail (India), a subsidiary of BSE-listed Pantaloon Retail (India), has informed that the firm along with its two investors has successfully raised Rs
150-crore via a rights issue to fuel its expansion programme.

The company has been able to successfully raise Rs 150-crore through a rights issue, which was closed yesterday. The company confirms that it has raised the amount along with ICICI Ventures Funds Management and Kotak SEAF India Fund.

The company intends to use the raised amount to fuel the company's expansion in the home-building and improvement merchandise, furniture and consumer durables segments.

In addition, the company plans to set up more stores in home retailing under its existing formats--Home Town, Electronic Bazaar, Furniture Bazaar, Collection I and eZone.

It may be noted that, Pantaloon Retail owns a 76.38 per cent stake in Home Solutions, while ICICI Ventures Funds Management and Kotak SEAF India Fund hold about 15 per cent and six per cent stake each, respectively, in the company.

However, the company official did not disclose any other details regarding the issue, including the number of shares bought by the two investors individually.