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Premji buys 10 percent stake in Subhiksha
By siliconindia
Bangalore: Azim Premji, the Chairman of Wipro, has picked up 10 percent equity stake in retail chain Subhiksha Trading for 
230 crore ($57.5Mn). He acquired it in his personal capacity through Premji Invest, his private investment arm, reported The Economic Times.
Premji Investment bought the stake from ICCI Ventures at a huge premium and ICCI Ventures' stake in retail chain will now come down to 14 percent.
The closely-held Subhiksha Trading has an equity capital of Rs 32 crore. The move comes as a big boon for the retail biggie which has been on an expansion spree
Earlier, Subhiksha had acquired a majority stake worth Rs 2.5 crore in Blue Green Construction, a Chennai based listed company. Premji will get a 10 percent stake in the entity once it completes the listing formalities.
Moreover, Premji has also a stake of 1.51 percent in Shoppers' Stop, another retail major.
Apart from that, he owns 3.33 percent stake in Himatsingka Seide and 1.03 percent in Aventis Pharma.
230 crore ($57.5Mn). He acquired it in his personal capacity through Premji Invest, his private investment arm, reported The Economic Times.
Premji Investment bought the stake from ICCI Ventures at a huge premium and ICCI Ventures' stake in retail chain will now come down to 14 percent.
The closely-held Subhiksha Trading has an equity capital of Rs 32 crore. The move comes as a big boon for the retail biggie which has been on an expansion spree
Earlier, Subhiksha had acquired a majority stake worth Rs 2.5 crore in Blue Green Construction, a Chennai based listed company. Premji will get a 10 percent stake in the entity once it completes the listing formalities.
Moreover, Premji has also a stake of 1.51 percent in Shoppers' Stop, another retail major.
Apart from that, he owns 3.33 percent stake in Himatsingka Seide and 1.03 percent in Aventis Pharma.
