Mandhana Retail Ventures hits 5% circuit limit for 2nd day on Jhunjhunwala buzz

NEW DELHI: Taking its rally to the second day, shares of Mandhana Retail Ventures hit the upper circuit limit of 5 per cent in Thursday morning trade on reports that ace investor Rakesh Jhunjhunwala was looking to buy a minority stake in the company that caters to actor Salman Khan’s ‘Being Human’ brand.

There were speculations that Jhunjhunwala will be buying about 13 per cent stake in the company.

The stock hit the 5 per cent upper circuit at Rs 238.10 on BSE. This was in addition to the 5 per cent circuit limit it hit on Wednesday after its listing following a demerger.


Mandhana Retail Ventures got listed on Wednesday. It was a subsidiary of listed company Mandhana Industries, which in November 2014 had announced the demerger of the retail and trading business of the ‘Being Human’ brand as Mandhana Retail Ventures.

As per the scheme of arrangement, shareholders of Mandhana Industries received two fully-paid equity shares of Rs 10 each in Mandhana Retail for every three fully paid-up equity they held.