Indivest Pte, an affiliate of Singapore government's investment arm GIC Special Investments (GIC SI), has invested Rs.900 crore in Reid & Taylor (India), a wholly owned unlisted subsidiary of S Kumars Nationwide (SKNL).
Reid & Taylor has issued new shares and warrants to Indivest. Post-conversion, GIC SI will own 25.4 per cent of Reid & Taylor, valuing the company at R. 3,540 crore. S Kumars will own 74.6 per cent of Reid & Taylor India post the investment from GIC SI.
GIC SI investment in Reid & Taylor will help to substantially strengthen Reid & Taylor and SKNL's business and their ability to grow in the luxury fabric and apparel and other textile segments of the textile industry. |