comScore
Active Stocks
Fri Sep 22 2023 15:58:38
  1. Tata Steel share price
  2. 126.7 -0.86%
  1. HDFC Bank share price
  2. 1,529.2 -1.57%
  1. State Bank Of India share price
  2. 598.1 1.67%
  1. Power Grid Corporation Of India share price
  2. 199.1 -1.34%
  1. Tata Motors share price
  2. 621.1 -0.93%
Business News/ Companies / News/  Tanla Platforms onboards Premji Invest as one of its marquee investors
Back

Tanla Platforms onboards Premji Invest as one of its marquee investors

We welcome Premji Invest to our list of marquee investors. Mr. Azim Premji is a luminary best known for building global businesses, and a gold standard for corporate governance and philanthropy. Look forward to this association into the future, Tanla Platforms CEO Uday Reddy said.

A file photo of Wipro chairman Azim Premji.  Premji Invest is Azim Premji’s investment arm.Premium
A file photo of Wipro chairman Azim Premji. Premji Invest is Azim Premji’s investment arm.

Premji Invest, the investment arm of Azim Premji's endowment and philanthropic initiatives, is said to have invested in India's largest CPaaS provider Tanla Platforms Ltd, the company's CEO Uday Reddy announced on Tuesday.

"We welcome Premji Invest to our list of marquee investors. Mr. Azim Premji is a luminary best known for building global businesses, and a gold standard for corporate governance and philanthropy. Look forward to this association into the future!," Uday Reddy said in a tweet.

The nature of investment and the amount is not disclosed.

Tanla Platforms processes more than 800 billion interactions annually and about 63% of India’s A2P SMS traffic is processed through Trubloq, making it the one of the world’s largest Blockchain use case.

The Hyderabad-based company has recently reported a 67% year-on-year growth in net profit at 136 crore, while revenue from operations rose 44% year-over-year to 841 crore.

Premji Invest has been active in investing in the Indian markets for over ten years. The focus of the investments has been to grow medium-sized Indian companies into large companies that can compete globally.

Investments of Premji Invest is across sectors like consumer, financials, technology, and manufacturing and includes brands like Fab India, Hygienic Research, ID foods, Lenskart, Policy Bazaar, Flipkart, Gold Plus Glass, and Shubham Housing.

On Tuesday, Tanla Platforms shares were up 5% to close at 1,325.95 on NSE.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Updated: 16 Nov 2021, 07:29 PM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App