Home Fashion Rakesh Jhunjhunwala buys 13 per cent stake in Mandhana Retail Ventures

Rakesh Jhunjhunwala buys 13 per cent stake in Mandhana Retail Ventures

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Ace investor has bought nearly 13 per cent stake in that holds licences to manufacture and sell ’s brand of clothing and fashion accessories.

Rakesh Jhunjhunwala buys 13 per cent stake in Mandhana Retail Ventures
Being Human label is owned by the Salman Khan Foundation and Mandhana Retail, that operates a chain of Being Human-branded outlets, pays 5 per cent royalty on sales to owner

“I have purchased 2.81 million equity shares of The Mandhana Retail Ventures, which is 12.74 per cent of the total issued and paid up capital of the company on December 14, 2016 via off market acquisition,” Jhunjhunwala said in a BSE filing.

The board of directors of Mandhana Industries on November 22, 2014, had approved the demerger of the company’s retail and trading business of the brand Being Human to MRVL.

Being Human label is owned by the Salman Khan Foundation and Mandhana Retail, that operates a chain of Being Human-branded outlets, pays 5 per cent royalty on sales to owner.