Nahar Industrial Enterprises Ltd has informed BSE that Nahar Retail Ltd (NRL) and its promoters have entered into an Investment Agreement dated March 13, 2008 with Sequoia Capital India Growth Investment Holdings I (”the Investor”). Subject to the terms of this agreement, the investor would invest an amount aggregating to Rs 120 crores (Rs One hundred twenty crores only) in Nahar Retail Ltd in two tranches i.e. Rs 80 crore and Rs 40 Crore by subscribing to the Investor subscription shares of Rs 10/- each at Rs 223.64 per share to be issued by the Company. The Company has additionally subscribed 1453240 equity shares of Rs 10/- each at Rs 223.64 per share of Nahar Retail Ltd aggregating to Rs 32.50 crores.