Welspun Living is set to see a block deal where the promoter plans to sell up to 4.6% of the company’s stake and raise $106 million, according to CNBC-TV18 sources. The transaction will be executed at a floor price of ₹197 per share, which represents about a 5% discount to the current market price of ₹208.70. The deal will include a 180-day lock-up period, during which the shares cannot be sold further.

Welspun Living is a prominent player in the Indian home textiles industry and is part of the diversified Welspun Group. The company specialises in manufacturing and marketing a wide range of home textile products, including bed linens, towels, and rugs.

So far this year, Welspun Living shares have gained more than 43%, compared to a Nifty gain of over 15%.

#NewsFlash | Promoter Likely To Sell 4.6% Stake in Welspun Living Via Block Deals, sources to @nimeshscnbc

– Floor Price Seen At Rs 197/ Sh, 5% Discount To CMP

– There Will Be A 180 Day Lock In Period pic.twitter.com/BqBhN7eXi5

— CNBC-TV18 (@CNBCTV18Live) August 28, 2024

Apart from Welspun Living, two large block deals are also likely to happen tomorrow in IndiGo and PB Fintech. Taken together, the three-block deals will raise nearly $1 billion in funds tomorrow.

InterGlobe Aviation’s promoter and co-founder Rakesh Gangwal is likely to sell up to $850 million worth of his stake in the country’s largest airline IndiGo through block deals, sources privy to the developments told CNBC-TV18.

A third block deal is likely to happen in PolicyBazaar’s promoter PB Fintech Ltd where Tencent Cloud Europe BV is likely to offload a 2.1% stake, equating to approximately 9.7 million shares, through block deals, sources in the know told CNBC-TV18.