Mandhana Retail increases sales royalty to Salman Khan’s Being Human from 3% to 5%

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Updated: December 15, 2016 12:25:45 PM

Mandhana Retail has increased its sales royalty to Being Human from 3% to 5%. The retail company said that its 9-year exclusive agreement with Being Human will expire in 2020 and the renewal agreement may be signed in next six months.

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’.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’.

Mandhana Retail has increased its sales royalty to Being Human from 3% to 5%. In an interview to CNBC-TV18, the retail company said that its 9-year exclusive agreement with Being Human will expire in 2020 and the renewal agreement may be signed in next six months. “Promoters will hold 43% stake in retail entity and 55% of its promoters’ stake is still pledged,” it said. 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’.

Yesterday, Big Bull and ace investor Rakesh Jhunjhunwala expressed his interest in buying 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. Sources told ET Now that Jhunjhunwala may buy the stake from the promoters of the company.

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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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