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Infosys cofounder Nilekani invests in Fabindia
07
Dec '16
Courtesy: Fabindia
Courtesy: Fabindia
Through their family office Entrust, Infosys cofounder Nandan Nilekani and his wife Rohini have invested about Rs 100 crore for a 2 per cent stake in ethnicwear brand Fabindia, in which Wipro founder Azim Premji already owns a 25 per cent stake. This stake sale values Fabindia, which operates 229 stores in India, at approximately Rs 5,000 crore.

This was disclosed by two persons familiar with the deal to a leading daily. Earlier this year, existing investor Azim Premji had bought an additional 8 per cent stake in Fabindia, which increased his stake to 25 per cent in the company. The rest of the stake is held by the founder, the Bissell family, employees and other minority shareholders.

Along with managing stores in India, Fabindia also operates 10 stores in overseas markets and also runs an ecommerce website. (AR)

Fibre2Fashion News Desk – India


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