Who wrote this article?

Aakash Agarwal, Capitalmind's research team.

VLS Finance sells stake in Relaxo Footwear to Jwalamukhi Investment

5 Apr 2016Aakash Agarwal1 min read

Quick Facts

What is "VLS Finance sells stake in Relaxo Footwear to Jwalamukhi Investment" about?
What category is this article in?: Stocks
Who wrote this article?: Aakash Agarwal, Capitalmind's research team.
When was this article published?: Published 5 April 2016.
How long does this article take to read?: 1 min read
What topics does this article cover?: Jwalamukhi
What does the "[Relaxo Footwear](http://snap.capitalmind.in/#/nse/RELAXO)" section say?: Relaxo Footwears Limited commenced its journey with the manufacture of Hawaii slippers. It has now grown into a large-scale entrepreneurship catering to the basic needs of the quintessential Indian citizen. Today, the company manufactures over 3 lakh pairs of footwear per day, which approximately adds up to over 10 million pairs per year at the 9 state-of-the-art manufacturing units in Northern India.
What does the "Disclaimer" section say?: Nothing in this newsletter is financial advice and should not be construed as such. Please do not take trading decisions based solely on the matter above; if you do, it is entirely at your own risk without any liability to Capital Mind. This is educational or informational matter only, and is provided as an opinion.

Relaxo Footwear

Relaxo Footwears Limited commenced its journey with the manufacture of Hawaii slippers. It has now grown into a large-scale entrepreneurship catering to the basic needs of the quintessential Indian citizen. Today, the company manufactures over 3 lakh pairs of footwear per day, which approximately adds up to over 10 million pairs per year at the 9 state-of-the-art manufacturing units in Northern India.

VLS Finance (also VLS Securities) which held 16,207,760 shares or 13.50% as of December, 2015 sold 1,770,969 shares or 1.48%.

Private equity (PE) firm WestBridge Capital, through its unit Jwalamukhi Investment Holdings purchased this stake of 1.48% and as well purchased an additional 95k shares thereby bringing its shareholding to 1,866,277 shares or 1.55%.

WestBridge Capital is a highly experienced investment firm, managing over $1.2 billion of capital, which focuses on investments in India. WestBridge was co-founded by KP Balaraj, Sumir Chadha, SK Jain and Sandeep Singhal. The same team of four also co-founded Sequoia Capital India.

This investment is in addition to the ones made in Indiamart and Videocon D2H.

Relaxo Jwalamukhi Investments VLS Finance April 2016

Disclaimer

Nothing in this newsletter is financial advice and should not be construed as such. Please do not take trading decisions based solely on the matter above; if you do, it is entirely at your own risk without any liability to Capital Mind. This is educational or informational matter only, and is provided as an opinion.