Welspun Corp to buy back 2.88 cr shares for Rs 390 cr

Welspun Corp said Monday that the company will buy back 2.8 crore shares for Rs 390 crore, at a price of Rs 135 apiece.

"The buyback committee at its meeting held today (Monday) has fixed the buyback size of Rs 390 crore at a buyback price of Rs 135 per share," according to a BSE filing.

The company will buy back up to 28,888,888 equity shares. The committee has fixed July 5 as the "record date" to determine the company's equity shareholders who would be eligible to participate in the buyback, it added.