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Welspun Corp Limited ( (IN:WELCORP) ) just unveiled an announcement.
Welspun Corp’s board has approved the acquisition of approximately 2.57% equity in its subsidiary Welspun Mauritius Holdings Limited (WMHL) from its wholly owned US subsidiary, Welspun Pipes Inc., for up to USD 5.962 million in cash, which will result in WMHL becoming a direct wholly owned subsidiary. The transaction, structured as a related-party deal on an arm’s-length basis, is aimed at streamlining and optimising the company’s overseas holding structure and aligning WMHL’s ownership directly with the parent, with no expected material impact on consolidated financials, operations or profitability, but clarifying the group’s corporate structure in Mauritius, where WMHL serves as an investment holding entity.
More about Welspun Corp Limited
Welspun Corp Limited is a listed Indian company with global operations, primarily engaged through its subsidiaries in businesses that include investment holding structures for its overseas interests. Its group entities, such as Welspun Mauritius Holdings Limited and Welspun Pipes Inc., USA, are used to manage and consolidate international investments and operations, including in the infrastructure and industrial sectors.
Average Trading Volume: 49,483
Technical Sentiment Signal: Hold
Current Market Cap: 194.7B INR
For an in-depth examination of WELCORP stock, go to TipRanks’ Overview page.