By
Reuters
Reuters
Published
Jul 22, 2009
Jul 22, 2009
S Kumars to raise 3.6 billion rupees via QIP
By
Reuters
Reuters
Published
Jul 22, 2009
Jul 22, 2009
MUMBAI (Reuters) - S Kumars Nationwide Ltd said it plans to raise 3.6 billion rupees through a qualified institutional placement (QIP) of shares.
S Kumars Nationwide Ltd |
The textiles firm also said it will be going in for an enabling resolution for 5 billion rupees.
The firm had said on July 2 it would seek an enabling resolution for placement of shares for up to 10 billion rupees.
"That has been now modified to 500 crores (5 billion rupees), but the actual QIP size was always planned to be 360 crores (3.6 billion rupees), that has not been modified," S Kumars managing director Nitin Kasliwal said.
Ahead of the announcement, S Kumars Nationwide shares ended down 6.35 percent at 33.90 rupees in a weak Mumbai market.
© Thomson Reuters 2024 All rights reserved.