Welspun Enterprises advances on completing sale of 13% stake in DBCL

19 Dec 2018

Welspun Enterprises is currently trading at Rs. 118.30, up by 1.50 points or 1.28% from its previous closing of Rs. 116.80 on the BSE.

The scrip opened at Rs. 121.70 and has touched a high and low of Rs. 121.70 and Rs. 118.10 respectively. So far 16908 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 202.85 on 28-May-2018 and a 52 week low of Rs. 101.00 on 11-Dec-2018.

Last one week high and low of the scrip stood at Rs. 122.00 and Rs. 114.50 respectively. The current market cap of the company is Rs. 1750.34 crore.

The promoters holding in the company stood at 46.04%, while Institutions and Non-Institutions held 7.89% and 46.07% respectively.

Welspun Enterprises has completed the transaction for sale of 13% stake in Dewas Bhopal Road Corridor (DBCL) with India Infrastructure Fund-II and has received consideration of Rs 57.70 crore. With this, the company has completely divested its 50% stake in DBCL for a total consideration of Rs 184.10 crore as against its fund infusion of Rs 85.40 crore implying a multiple of 2.15x.

Welspun Enterprises, formerly Welspun Projects, part of the Welspun Group, is an operating company in the infrastructure business. The company also has investments in Oil & Gas Exploration.

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Puchho Befikar
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