TVS Shriram fund to invest 650 mln rupees in Trent arm

MUMBAI (Reuters) - Domestic fund TVS Shriram Growth Fund I would invest 650 million rupees in a unit of retailer Trent Ltd, the latter said in a statement.

Trent said it will sell 1.4 million shares held by it in unit Landmark to the fund for 500 million rupees. The fund will subscribe an additional 421,171 shares in Landmark for 150 million rupees, Trent said.

TVS Shriram's equity infusion into Landmark, Trent's book and music retail chain, will help fund its growth requirements, Trent, which also operates the Westside chain of stores, said.

Landmark currently operates over 20 stores and occupies more than 200,000 square feet of retail space.

Trent shares closed up 1.37 percent at 635.25 rupees in the Mumbai market.

(Reporting by Aniruddha Basu; Editing by Sunil Nair)