Premji comes to rescue of cash-strapped Subhiksha

Wipro Chairman Azim Premji is busy working out the finances for one of his big investments, discount retailer Subhiksha Trading Services Ltd. Azim Premji's team is in talks with 13 banks to revive Subhiksha and bring in debt of Rs 300 crore. Cash-strapped Subhiksha has lost many of its top managers and nearly 1,600 stores are shut for non-payment of dues to employees and suppliers. Premji's team and ICICI Ventures team have a lot of credibility in the market and they will also add in the process, said Subhiksha MD R Subramanian.

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• Subhiksha
• NDTV
• Profit
• India
• Wipro