Ajim Premji to Invest $250 Mn in Future Group, Amazon in talks with Biyani
Premji Invest, the family office of Wipro Head Ajim Premji is eyeing to invest $250 million in the holding company of Kishore Biyani's Future Group. According to a report published in leading daily, Premji invest can pick up 6 percent stake sale in Future Retail at a time when the market is already buzzing discussions over Amazon to pick up a 10% stake in brick and mortar retailer.
Kishore Biyani's move to shore up funds has come at a time when US giant Walmart has taken a huge bet on India by investing $16 billion in homegrown e-commerce startup Flipkart valued at $21 billion.
It is crucial to note that PremjiInvest had earlier bought 8 per cent stake the group's branded apparel chain in Future Lifestyle Fashions, however, it had half of its stake to private equity fund L Catterton ...