MoneyWorks4Me

PremjiInvest picks 3.26% stake in FLFL for Rs 195.92 crore

18 Jul 2017 Evaluate

PremjiInvest, the investment arm of Wipro Chairman Azim Premji, has purchased 3.26% stake in Kishore Biyani’s Future Lifestyle Fashions (FLFL) through open market transactions. PI Opportunities Fund 1, part of PremjiInvest, purchased 62 lakh shares in FLFL. The shares were acquired at an average price of Rs 316 apiece, valuing the transaction at Rs 195.92 crore.

Future Lifestyle Fashions is an integrated lifestyle brands and fashion retail company. The company operates a portfolio of brands that are well diversified across key growth categories like women’s wear, fast fashion and casual wear.


Peers
Company Name CMP
Avenue Supermarts 3342.00
Trent 2958.00
Vishal Mega Mart 95.90
PN Gadgil Jewellers 601.55
Aditya Birla Life 72.80
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