Welspun Global up 5% on promoters' open offer
Welspun Global Brands shot up 5% on Friday as promoters have made open offer for acquiring more stake in the company.
July 13, 2012 / 15:20 IST
Welspun Global Brands shot up 5% on Friday as promoters have made open offer for acquiring more stake in the company.
According to a release sent to exchanges, "Krishiraj Trading Limited along with Welspun Mercantile Limited, being promoters of the company are making a voluntary open offer to acquire up to 14,50,000 equity shares, representing 13.84% of the voting share capital of the company at a price of Rs 42 per share."At 14:27 hours IST, the share was trading at Rs 39.35, up Rs 1.85, or 4.93%. There were pending buy orders of 26,224 shares, with no sellers available.
In the previous trading session, the share closed up 2.74% or Rs 1.00 at Rs 37.50.
Market capitalisation of the company currently stands at Rs 41.22 crore. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
