Merrill Lynch Capital ups stake in Welspun Projects to 7.55%

NEW DELHI: Welspun Projects today said Merrill Lynch Capital has raised its stake in the company to 7.55 per cent.

Prior to acquisition, Merrill Lynch Capital Markets Espana's stake in the company was 3.80 per cent, Welspun Projects said in a regulatory filing.

The mode of acquisition was market purchase, it further said, adding that the buyout of 15 lakh shares by Merrill Lynch Capital took place on April 30.

Welspun Projects Ltd (WPL), formerly known as MSK Projects (India) Ltd and part of the Welspun Group, is into engineering, procurement and construction (EPC) projects across sectors like roads, water and industrial structures.