S Kumars Nationwide (SKNL) is planning to mop up around Rs 600 crore by selling shares of its Reid and Taylor (India) unit through a qualified institutional placement (QIP), having put its initial public offer (IPO) plan on the back burner.
The company will utilise the raised fund for paying off its debt. SKNL’s debt-to-equity ratio stands at 1.83% for fiscal 2012.
S Kumars Nationwide is one of India’s leading textile and Apparel Company with expertise in multi-fiber manufacturing. The company has extended its presence in multiple product categories from Fabrics to Apparels and Home Textiles.
