Jhunjhunwala picks up stake in Mandhana Retail

Rakesh Jhunjhunwala has picked up a 12.7 per cent stake in Mandhana Retail Ventures. Mandhana Retail holds the license to manufacture and sell Salman Khan's Being Human brand of clothing and fashion accessories. The Being Human label is owned by the Salman Khan Foundation, and Mandhana Retail that operates a chain of Being Human branded outlets, pays five per cent royalty on sales to the owner.

The branded apparel business is attracting a lot of private equity investments. Stock market investor Jhunjhunwala manages his own portfolio as a partner in his asset management firm Rare Enterprises and is known for his penchant for stocks with immense growth potential.

His investment picks which have made him an iconic figure on Dalal Street. He is a chartered accountant. Mandhana Retail Ventures is the retail arm of Mandhana Industries. It was incorporated in 2011. Mandhana Retail Ventures which has been given global licensing rights by the Being Human Foundation earns a royalty between seven and ten per cent on sales of Being Human merchandise, which is used for education and healthcare initiatives.

Mandhana sells apparels, watches and personal care products under the Being Human banner and it is now planning to diversify to newer products.