Premji Invest's Major Market Move: A Rs 446 Crore Acquisition
Premji Invest, led by Azim Premji, acquired shares in nine major companies worth Rs 446 crore. The investments span industries from telecom to steel and include stakes in Bharti Airtel and Reliance Industries. Meanwhile, Tarish Investment sold stakes in these firms, impacting stock values.
- Country:
- India
In a significant move on Friday, Premji Invest, the investment arm of notable entrepreneur Azim Premji, purchased shares across nine prominent companies, amassing a total investment of Rs 446 crore. Noteworthy acquisitions include shares in telecom giant Bharti Airtel and industrial leader Reliance Industries.
Among the other companies invested in are Jindal Steel & Power, Adani Ports, Ambuja Cements, Hindalco Industries, ICICI Bank, Infosys, and SBI Life Insurance. These transactions were facilitated through PI Opportunities AIF V LLP, a Premji Invest affiliate.
Contrarily, Tarish Investment and Trading Company, linked with Hasham Investment, divested its stakes in the same firms. As a result, share prices of several companies fluctuated, notably Adani Ports and Reliance Industries, while SBI Life Insurance's value rose on the BSE.
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