Rakesh Jhunjhunwala bets on Salman Khan’s brand Being Human: Ace investor may buy 15% stake in Mandhana Retail

Big Bull and ace investor Rakesh Jhunjhunwala is likely to buy 15 per cent stake in Mandhana Retail Ventures Ltd (MRVL), television channel ET Now reported citing sources. The channel said that the promoters would use the proceeds to cut personal debt.

Written by FE News Desk

New Delhi

December 14, 2016 16:58 IST

It may be noted that Jhunjhunwala, who thinks the "mother of all bull runs" is ahead for the Indian market, manages his own portfolio as a partner in his asset management firm Rare Enterprises and is known for his penchant for stocks with immense growth potential. (Express Photo)

Sources told ET Now that Jhunjhunwala may buy the stake from the promoters of the company, and an announcement in this regard is expected today evening.

It may be noted that Jhunjhunwala, who thinks the “mother of all bull runs” is ahead for the Indian market, manages his own portfolio as a partner in his asset management firm Rare Enterprises and is known for his penchant for stocks with immense growth potential.

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MRVL, which is the resulting company following the demerger of the retail business of Mandhana Industries, has got the exclusive rights to market, distribute and sell Bollywood superstar Salman Khan’s ‘Being Human’.

Shares of MRVL hit the upper circuit on the first day of listing on the bourses after its demerger from Mandhana Industries. The scrip surged 5 per cent to Rs 226.80 on BSE and 4.99 per cent to Rs 224.05 on NSE.

This article was first uploaded on December fourteen, twenty sixteen, at fifty-eight minutes past four in the afternoon.