Akash Bhanshali-Backed Textile Company Approves Rs 252 Crore Buyback At Rs 175 Per Share

The Indian equity markets ended lower on Tuesday, with the benchmark Nifty 50 index declining 0.14 per cent to 23,618.00. Textile and home furnishing stocks remained in focus amid corporate actions and capital allocation developments. In this segment, Welspun Living Ltd ended 1.24 per cent higher at Rs 140.39 after the company announced board approval for a share buyback proposal.

Welspun Living Approves Share Buyback

Welspun Living informed exchanges that the Board of Directors approved buyback of up to 1,44,00,000 fully paid-up equity shares of face value Re 1 each at a buyback price of Rs 175 per share payable in cash. The total buyback size stands at up to Rs 252 crore through the tender offer route.

The company stated that the buyback size represents around 6.52 per cent and 5.65 per cent of the paid-up equity share capital and free reserves on audited standalone and consolidated basis respectively as on March 31, 2026.

According to the filing, the buyback will be undertaken from existing shareholders on a proportionate basis through the tender offer mechanism under SEBI Buyback Regulations. The company fixed Friday, May 22, 2026 as the record date for determining shareholder eligibility for participation in the buyback offer.

Buyback Structure And Funding

Welspun Living stated that the buyback will be funded through free reserves, securities premium account and internal accruals. The company clarified that no borrowed funds from Banks or financial institutions would be utilised for the buyback process.

The company further stated that 15 per cent of the number of equity shares proposed to be bought back or entitlement available to small shareholders, whichever is higher, shall be reserved for small shareholders under SEBI regulations.

Welspun Living also confirmed that the buyback would not result in delisting of the company’s equity shares from stock exchanges and public shareholding would remain above the prescribed minimum regulatory requirement.

Key Appointments And Process

The company appointed DAM Capital Advisors Ltd as the manager to the buyback and Link Intime India Private Ltd as the registrar for the proposed transaction.

Welspun Living also constituted a Buyback Committee comprising Balkrishan Goenka, Rajesh Mandawewala, Dipali Goenka and Manish Bansal for implementation and execution of the buyback process.

About Welspun Living

Welspun Living Ltd is engaged in manufacturing and exporting home textile products including bed linen, bath linen, flooring solutions and home furnishing products. The company caters to domestic and international retail, hospitality and institutional markets across multiple geographies.

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Disclaimer: This article is for informational purposes only and not investment advice.