Reid & Taylor has issued new shares and warrants to Indivest. Post-conversion, GIC SI would own 25.4 per cent of Reid & Taylor, valuing the company at Rs 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, SKNL said in a release.
SKNL shares were trading at Rs 106.30, 0.33 per cent higher than Monday's close.