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Welspun to buy Rs 200 cr shares in MSK Projects

Welspun Gujarat Stahl Rohren plans to buy Rs 200 crore worth of shares in MSK projects through preferential allotment, a senior official told Reuters on Friday. The company said after market hours on Thursday the total acquisition cost will be Rs 400 crore, of which Rs 200 crore will be infused directly into the company for business growth. It is looking to invest in MSK Projects at Rs 130.5 a share, Welspun Director Akhil Jindal said over the phone.