Reid & Taylor is likely to be launched in the US market within eight months.
The brand is reportedly looking to raise around 1000 crore from public offering which are expected to be utilized for expansion plans. Textiles and apparel firm S. Kumars Nationwide Ltd. confirmed that its subsidiary Reid & Taylor has approached SEBI for permission to tap capital market with an initial public offering. It has filed its Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India on December 9.
The proceeds from the IPO would be utilized to expand Reid & Taylors manufacturing capacity and retail network in India and overseas—said Mr. Ashesh Amin, Director, S. Kumars.
Unitedworld Executive.
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