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On Monday, Premji Invest (PI) the investment arm of Wipro Group chairman Azim Premji has announced the acquisition of a significant minority stake in Hygienic Research Institute which is one of the largest home grown hair care focused FMCG companies.
The investment details such as the quantum of stake being sold to Premji Invest and the price at which the sale has been concluded has not been disclosed be the institute.
Manish Chhabra, Hygienic CEO & Managing Director said, “Premji Invest’s investment will spur us towards realising our vision of growing into a Rs 1,000 crore company in five years and creating significant stakeholder value. It will enable the unlocking of our brands’ true potential.”
