Balkrishan Goenka offloads 3.9% stake in Welspun Living

30 Aug 2024 , 11:15 AM

Balkrishan Goenka, the promoter of Welspun Living, and his family trust sold a 3.9% share in the company on Thursday for ₹781 Crore in an open market deal.

According to the exchange records, Balkrishan Goenka serves as the trustee of Welspun Group Master Trust.

According to block trade data on the National Stock Exchange, Goenka’s family trust, Welspun Group Master Trust, sold 3,80,81,706 shares, or 3.92% of Welspun Living.

The shares were sold at an average price of ₹205.21 per, bringing the total deal value to ₹781.47 Crore.

According to data from the end of the June quarter, the promoter and promoter group businesses controlled 70.50% of Welspun Living.

Aditya Birla Sun Life Mutual Fund, SBI Life Insurance, Authum Investment & Infrastructure, Copthall Mauritius Investment, Ghisallo Master Fund LP, Indus India Fund Mauritius, and Norway’s Government Pension Fund Global were among the investors in Welspun Living shares.

Welspun Living is a division of the diverse Welspun Group. The company manufactures and markets a diverse range of household textile products, such as bed linens, towels, and rugs.

According to BSE shareholding data, the company is controlled by eight promoters and a promoter group, who own 70.5% of the stock. In contrast, the company’s public shareholding was 28.49%.

At around 10.57 AM, Welspun Living was trading 0.74% higher at ₹197.95, against the previous close of ₹196.50 on NSE. The counter touched an intraday high and low of ₹199, and ₹194, respectively.

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