S. Kumars Plans to Sell as Much as $50 Million of Stock to Large Investors

S. Kumars Nationwide Ltd. plans to raise as much as $50 million in a share sale to large investors, according to a sale document obtained by Bloomberg News.

The shares will be sold for at least 79.99 rupees each, the document showed. Antique Capital Markets Pvt. Ltd., J. P. Morgan India Pvt. Ltd. and Edelweiss Capital Ltd. are managing the sale for the Mumbai-based textile maker. The sale that started yesterday will close today, the document showed.

To contact the reporter on this story: Pooja Thakur in Mumbai at pthakur@bloomberg.net

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