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The stock was last traded at Rs 8.90, up 4 per cent on the Bombay Stock Exchange.
"Fifteen years after launching it in India, the cash strapped promoters of S Kumars Nationwide Limited - led by Nitin Kasliwal - is planning to sell a controlling stake in the company and deleverage the balance sheet," the Economic Times reported.
According to the report , a mandate has been given out already and a formal process is expected to get launched in the coming weeks.
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