Singapore firm to invest Rs.9 bn in Reid and Taylor

June 24th, 2008 - 6:33 pm ICT by IANS  

New Delhi, June 24 (IANS) Singapore’s Indivest Pte Ltd will invest Rs.9 billion in Reid and Taylor, a subsidiary of Indian textile firm S. Kumars Nationwide Ltd (SKNL), through a fresh issue of shares and warrants. Indivest, an affiliate of GIC Special Investments, would own 25.4 percent of Reid and Taylor, valuing the SKNL subsidiary at Rs.35.40 billion.

“The investment in Reid and Taylor by GIC Special Investments will help to substantially strengthen Reid and Taylor and SKNL’s business and their ability to grow in the luxury fabric and apparel and other textile segments of the textile industry,” SKNL said in a regulatory statement.

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