Temasek sells 8.54% stake in Welspun Global
Singapore government’s sovereign fund Temasek Holdings has sold 8.54 per cent stake in Welspun Global Brands Ltd in the markets for an estimated Rs 3.5-4 crore. The fund held 9.85 per cent stake, which now leaves it with 1.31 per cent stake.
The shares of Welspun Global were last traded at Rs 43.4 on the Bombay Stock Exchange. Temasek sold the shares between Rs 38-43.5 per unit through its arms Dunearn Investments Mauritius and Baytree Investments Mauritius last week.
The stake in Welspun Global is part of Temasek's investment in home textiles maker Welspun India Ltd. According to VCCEdge, the financial research platform of VCCircle, Temasek had acquired the stake for Rs 118 crore in April 2005. Later, one of its arms, Baytree, picked up 1.39 per cent more from the markets.
In 2008, Welspun India spun off its marketing and investment divisions into two new firms to streamline its operations and boost international business. These two companies are Welspun Global Brands and Welspun Investments, respectively.
Temasek had sold off its stake in Welspun India earlier this year for Rs 56 crore. Temasek still holds a 14.11 per cent in Welspun Investments, which is worth Rs 1.13 crore.
A decade ago, the idea of a driverless car in real life would have been considered laughable. Today, it is a t
Temasek Holdings Advisors India Pvt. Ltd. (formerly known as Temasek Holdings Pvt. Ltd.) is a private equity firm. It provides growth capital to companies operating in Asia and Latin America. The firm seeks to invest in financial service, telecommunications, media and technology, transportation and industrial, life sciences, consumer and real estate and energy sectors. The company was founded in 1974 and is based in Mumbai, Maharashtra with additional offices in Chennai, Singapore, Brazil, China, Vietnam and United States of America.
- SingTel to up stake in Bharti Airtel for $657 mn; Temasek books huge loss
- Temasek ups exposure to private firms; portfolio value declines after 6-yr run
- Advent and Temasek make $251 mn open offer for Crompton Greaves Consumer
- IDFC PE part-exits StarAgri as part of Temasek deal
- Exclusive: Temasek offloads more of Godrej Consumer with neat returns
- CarTrade raises $145M from Temasek, others
Welspun Global Brands Ltd. is into home textile business. It is a sales and marketing division of the home textile business of Welspun. Welspun Global Brands Ltd. It is based in Mumbai, Maharashtra. On November 2012, company merged with Welspun India Ltd.