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.
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