 "PremjiInvest buys 3.26% stake in Future Lifestyle for Rs 196 crore")
New Delhi: PremjiInvest, the investment arm of Wipro Chairman Azim Premji, on Monday bought 3.26 percent stake in Kishore Biyani’s Future Lifestyle Fashions Ltd (FLFL) for nearly Rs 196 crore through open market transactions. [caption id=“attachment_3826455” align=“alignleft” width=“380”]  Wipro Chairman Azim Premji[/caption] As per the block deal data available with NSE, PI Opportunities Fund 1, part of PremjiInvest, on Monday purchased 62 lakh shares, or 3.26 percent stake, in FLFL. The shares were acquired at an average price of Rs 316 apiece, valuing the transaction at Rs 195.92 crore, according to the data. The shares were sold by Bennett, Coleman and Company Ltd and India Opportunities Growth Fund Ltd - Pinewood Strategy. The stock of FLFL dipped 2.94 percent Rs 308.50 per unit on NSE on Monday. FLFL owns and markets over two dozen fashion brands through exclusive brand outlets, department stores and multi brand outlets, as well as company operated chains such as Central, Brand Factory and Planet Sports.
The shares were acquired at an average price of Rs 316 apiece
Advertisement
End of Article
 "‘I’d love to do it’: Trump refuses to rule out third term — despite constitutional limit")
 "What is the ‘Golden Fleet’ of navy ships that Trump wants to counter China with?")
 "‘Ramayan country’: Why Trinidad and Tobago wants to build a large Ram temple")
 "How China's rare earths choke changed America's trade deals")
 "‘I’d love to do it’: Trump refuses to rule out third term — despite constitutional limit")
 "What is the ‘Golden Fleet’ of navy ships that Trump wants to counter China with?")
 "‘Ramayan country’: Why Trinidad and Tobago wants to build a large Ram temple")
 "How China's rare earths choke changed America's trade deals")
](https://images.firstpost.com/wp-content/uploads/2017/07/premji.jpg){kind=link}