The statue was crafted by artist Sunil Kandalloor, Hazare's personal secretary Datta Awari said.
The statue will then be shifted to Lonavala Wax Museum where it will be formally installed.
Interestingly, Hazare's wax statue is one of the celebrity figurines that are already installed at the museum.
Mandela, South Africa's first black president who steered his nation out of apartheid and into multi-race democracy, died late on Thursday at the age of 95 after protracted illness.
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