PremjiInvest news and archive

Myntra eyes another round of 40 million dollars funds

After neglecting Flipkart’s merger offer and raising 50 million dollars (over Rs 300 crores) through a deal led by PremjiInvest, owned by Wipro Chairman Azim Premji, leading online fashion retailer Myntra is said to be negotiating another round of discussion to attract an additional 40 million dollars (Rs 250 crores). The recently concluded...

Apparel

Myntra overlooks Flipkart offer, opts to raise funds

While the e-tailing industry was expecting the emergence of a strong leader if the merger deal between Flipkart and Myntra got through, the latter has opted out. Rather it is said to be going for a fund raising deal with PremjiInvest. Led by Wipro boss Azim Premji, PremjiInvest will pump in about 50 million dollars (over Rs 3,000 crores) in the...

Apparel

Premji acquires 5% in Trent

Wipro Chairman Azim Premji’s, PremjiInvest, has bought nearly half the shares on offer in the recently concluded qualified institutional placement (QIP) of the Tata group’s listed retailer Trent. This after PremjiInvest picked up 7 per cent stake in Fabindia recently. PremjiInvest has invested Rs 122 crores in Trent which runs the Westside chain...