In a significant market development, Welspun Ltd has successfully executed a block deal to sell approximately 3.8 crore shares, representing 3.9% of the equity in its subsidiary Welspun Living. The transaction was carried out in the block deal window at the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The shares were offloaded at a price of ₹197 per share, which represents a 5% discount to Welspun Living’s closing price on the previous trading day. The deal size amounts to around ₹750 crore.
Earlier reports had suggested that Welspun Ltd, the promoter of Welspun Living, was likely to sell a 4.6% stake in the company through block deals at a floor price of ₹197 per share. The promoter is now subject to a 180-day lock-in period, during which they cannot offload any further stake.
Welspun Living, a leading player in the home textiles and flooring sectors, has been consistently performing well, with strong revenue growth and improving margins. The company’s focus on expanding its product offerings and enhancing operational efficiencies has contributed to its robust performance.
The successful completion of this block deal underscores investor confidence in Welspun Living’s growth potential and market positioning. The capital raised from this transaction is expected to support Welspun Ltd’s strategic initiatives and strengthen its financial position.
As the market reacts to this development, stakeholders will be closely monitoring Welspun Living’s stock performance and any potential impact on the company’s future plans and growth trajectory.
