S Kumars Nationwide`s luxury textiles and ready-to-wear garments brand, Reid & Taylor, may be getting a Rs 2 billion private equity (PE) boost by the end of this fiscal, reports DNA.
It is said that Reid & Taylor is in the final stage of making a 20% stake dilution in favor of a PE player for Rs 2 billion and is currently talking to three overseas private equity players based in the US, UK and South Asia.
The company is also likely to go public with an initial public offering likely during the second quarter next fiscal.
Shares of S Kumar`s declined Rs 2.3, or 1.51%, to end at Rs 149.7. The total volume of shares traded was 37,818 at the BSE. (Wednesday)
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