Public Company

S Kumars Nationwide shareholders okays QIP issue

Textile company S Kumars Nationwide today said its shareholders have approved the raising of additional funds through private placement of shares to institutional investors. - S Kumars Nationwide FY"09 net at Rs 60 cr - Shree Renuka Sugars raises Rs 506 cr via QIP issue - Hindalco plans to raise Rs 2,400 cr via QIP - Emami to raise funds through QIP - S Kumars to acquire US-based Hartmarx for $119 mn - GMR Infra QIP issue priced at Rs 142 a share In a filing to the Bombay Stock Exchange the company said its shareholders, by way of postal ballots, have approved further placement of shares to qualified institutional buyers (QIBs). Last month, the board had approved raising of an amount not exceeding Rs 1,000 crore through the issue of shares by way of qualified institutional placement (QIP). Further, the shareholders have approved the investment or providing loans or security to overseas subsidiary company, the filing added. Shares of S Kumars Nationwide closed at Rs 45.10, up 4.16 per cent on the BSE.

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