Krishiraj Trading has reportedly bought 16.22 lakh shares of Welspun Corp through open market route. The shares were purchased on an average price of Rs 64 valuing the transaction to Rs 10.38 crore. On the other hand, JPA Holdings has sold 16.54 lakh shares in the company for an average price of Rs 64 through open market route.
Welspun Corp is currently in four businesses viz Line Pipes, Energy, Infrastructure & Steel and enjoys a global leadership position in the first two businesses. It may be recalled that Welspun Corp is already in advanced stages of demerging the parts of its business other than Line Pipes into Welspun Enterprises through a court process.
