Welspun Promoter Sells Significant Stake for Rs 781 Crore

Welspun Living's promoter Balkrishan Goenka's family trust reduced its stake by 3.9% in the company, selling shares worth Rs 781 crore in an open market transaction. Key buyers included Aditya Birla Sun Life Mutual Fund and Norway's Government Pension Fund Global. The shares were sold at an average price of Rs 205.21 per share.

Welspun Living's promoter Balkrishan Goenka's family trust on Thursday pared a 3.9 per cent stake in the company, translating to a deal worth Rs 781 crore through an open market transaction.

According to exchange data, Goenka serves as the trustee for Welspun Group Master Trust, which sold 3,80,81,706 shares—that's 3.92 per cent of Welspun Living—at an average price of Rs 205.21 each.

The promoter and promoter group's stake was 70.50 per cent at the end of the June quarter. Key buyers of these shares included Aditya Birla Sun Life Mutual Fund, SBI Life Insurance, Authum Investment & Infrastructure, and Norway's Government Pension Fund Global.

(With inputs from agencies.)