Premji buys 10% stake in Subhiksha

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Ajim Premji has bought 10% stake in Subhiksha for Rs. 230 crores. Subhiksha was planning an IPO to raise Rs. 350 crores earlier, but given the current market situation decided to raise money from investors (wondering why Premji and not PE investors?)

ICICI Venture earlier invested in Subhiksha (reportedly, they own 24% stake) and as per NDTV, Premji would buy ICICI’s stake.

» More on the Indian Retail Industry.

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