UK's Lewis to invest Rs 56.97 cr in Provogue subsidiary

Wed. October 08, 2008; Posted: 12:07 AM

Mumbai, Oct 06, 2008 (Asia Pulse Data Source via COMTEX) -- PVGUF | Quote | Chart | News | PowerRating -- Fashion garments maker Provogue India today said UK-based Lewis Trust Group would invest Rs 56.97 crore for over three per cent stake in one of its subsidiary.

In a filing to the Bombay Stock Exchange Provogue India said it has entered into an agreement with Lewis promoted LTG International to invest 56.97 crore in the step down subsidiary of Prozone Enterprises Pvt Ltd (Prozone-Liberty).

The step down subsidiary is a joint venture between Provogue (India) Ltd and Liberty International Plc. The investment would give Lewis a 3.36 per cent holding in the company, the filing added.

Shares of the company closed at Rs 137.55, down 1.79 per cent on the BSE.

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