Welspun India successfully priced Rs 156.03 Crores QIP

Welspun India Ltd., (Welspun), part of the $3,000 million Welspun Group and amongst the World's largest Home Textiles manufacturer launched and successfully placed Qualified Institutional Placements (QIP) of equity shares for an amount of Rs. 156.03 Crore.

The funds will be utilized for capital expenditure, investments in growth opportunities and other usage in accordance with applicable statutory and/or regulatory requirements. The shares being issued under QIP will be listed on the Bombay Stock exchange and National Stock Exchange. Motilal Oswal Securities Ltd. has acted as the sole book-runner for the QIP.

Speaking on the occasion, Mr. B.K. Goenka, Chairman and Managing Director of Welspun said, "This QIP issuance, once again depicts the faith investors have reposed in the prospects of our Company. I take this opportunity to thank all the investors and I strongly believe that this successful placement will pave way to strengthen endeavors to make Welspun India Ltd., one of the most respected and largest Home Textiles companies in the World".

The stock was trading at Rs.96.30, up by Rs.0.85 or 0.89%. The stock hit an intraday high of Rs.98 and low of Rs.96.05.

The total traded quantity was 19046 compared to 2 week average of 222364.

Source : Equity Bulls

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