Welspun Living Ltd. has proposed to buyback shares worth Rs 278 crore on Tuesday. The company will repurchase over 1.26 crore shares, at a price of Rs 220 per equity share, according to an exchange filing. The date of opening of the buyback is Aug. 9, and the offer closes on Aug. 16.
The buyback represents 7.87% and 6.67% of the paid-up equity share capital and free reserves (including securities premium account) of the company on audited standalone and consolidated basis, respectively, as on March 31, 2024.
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The promoters will also participate in the buyback, the company said. The promoters currently hold 70.50% equity.
Shares of Welspun Living closed 4.41% higher at Rs 181.99 apiece, as compared to a 0.26% decline in the NSE Nifty 50.
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