Premji buys more stake in Jyothy Labs

BENGALURU: Premji Invest, the private investment arm of Wipro chairman Azim Premji, has picked up a fresh stake of 1.39% in FMCG company Jyothy Laboratories, the maker of fabric whitener Ujala.
Hasham Investment And Trading Co, the vehicle through which Premji made the investment, bought 25.21 lakh shares of Mumbai-based Jyothy Labs, according to the latest filings with the Bombay Stock Exchange.
Based on Jyothi Labs' Thursday closing price of Rs 294.50, the stake is valued at about $11.58 million.
Premji, through venture capital fund PI Opportunities Fund I, already owns 1.27% in Jyothy.
Prakash Parthasarathy , chief investment of ficer of Premji Invest, declined to comment on the investment when contacted by TOI.
Premji Invest has been aggressively investing in public and private companies in India and has over $2.5 billion worth of investments under management.Its notable investments include fashion e-tailer Myntra, e-commerce website Snapdeal, media technology company Amagi Media Labs and US-based mobile operating system startup Cyanogen. It also has a stake in HCG, the Bengaluru-based cancer treatment hospital chain, which filed for an IPO recently.