Home / Knowledge / News / Textiles / SKNL completes QIP issue, raises US$ 50 mn
SKNL completes QIP issue, raises US$ 50 mn
20
Sep '10
S. Kumars Nationwide Limited (SKNL), a leading Indian textile and apparel manufacturing company, announced that the company has raised US$ 50mn (Rs 235 crores) by issuing fresh shares to Qualified Institutional Buyers (QIBs). The company received an order book of approximately 2.5 times the base issue size of $ 25 million and opted to exercise the overallotment option of $ 25 million.

The issue was widely subscribed including investors from the United States, Europe and Asia (including India). The equity shares were issued at a price of Rs. 80 per share,

J. P. Morgan India Private Limited, Edelweiss Capital Limited. and Antique Capital Markets Private Limited were the bookrunning lead managers to the issue.

Mr Nitin Kasliwal, Managing Director and Vice Chairman of SKNL said, “This fund raising initiative is in alignment with our stated vision of Clothiers to the nation, the world tomorrow and enhancing the value proposition of our businesses. The funds raised will be utilized for the growth plans of the company. We are a global leader in fabrics to fashion and look to consolidate our leadership position by adding more capacities in India and pursue international growth opportunities.”

S. Kumars Nationwide Ltd. (SKNL) is one of India's leading textiles and apparel manufacturing company with expertise in multi-fiber manufacturing. The company has extended its presence in multiple product categories from fabrics to apparels and home textiles. The Company has recently extended its presence overseas to the European and North American markets expanding its brand portfolio of 45 leading brands catering to various price points, socio economic segments and age groups globally.

S Kumars Nationwide Limited (SKNL)


Must ReadView All

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

Courtesy: Tintex

Textiles | On 21st Jun 2018

'Price ratio is key factor for knitted fabrics market'

The price ratio is a key factor for the global knitted fabrics market ...

Interviews View All

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search