Welspun Living Shares Drop After Family Trust Stake Sale

New Delhi, Aug 29 (PTI) Welspun Living's promoter Balkrishan Goenka's family trust on Thursday pared a 3.9 per cent stake in the company for Rs 781 crore through an open market transaction.

Balkrishan Goenka is the trustee of Welspun Group Master Trust, as per the exchange data.

Goenka's family trust, Welspun Group Master Trust sold 3,80,81,706 shares, amounting to a 3.92 per cent stake in Welspun Living, according to the block deal data on the National Stock Exchange (NSE).

The shares were sold at an average price of Rs 205.21 apiece, taking the deal value to Rs 781.47 crore.

At the end of the June quarter, the promoter and promoter group entities owned a 70.50 per cent stake in Welspun Living, data showed.

Meanwhile, 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 buyers of Welspun Living shares.

Welspun Living is a part of the diversified Welspun Group. The company specialises in manufacturing and marketing a wide range of home textile products, including bed linens, towels, and rugs.

Shares of Welspun Living dropped 5.05 per cent to close at Rs 196.80 apiece on the NSE.