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.
