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Welspun Corp Limited ( (IN:WELCORP) ) has issued an announcement.
Welspun Corp Limited’s board has approved the acquisition of an additional 2.57% equity stake in its Mauritius-based subsidiary, Welspun Mauritius Holdings Limited, from its wholly owned US unit Welspun Pipes Inc. for up to USD 5.962 million in cash, a move that will convert WMHL into a direct wholly owned subsidiary of the parent. The transaction, classified as a related-party deal but executed on an arm’s-length basis, is aimed at streamlining and optimising the company’s overseas holding structure, with management stressing that the internal reorganisation will not materially affect consolidated financials, operations, or profitability but should simplify ownership and governance of a key investment holding platform in Mauritius.
More about Welspun Corp Limited
Welspun Corp Limited is a leading Indian manufacturer in the pipes and steel segment, with a global presence in energy transportation and related infrastructure, and it operates through various overseas subsidiaries and holding companies, including investment holding entities such as Welspun Mauritius Holdings Limited (WMHL). The group uses these offshore structures to manage and consolidate its international investments and businesses, particularly in markets served through its US and Mauritius-based arms.
Average Trading Volume: 49,483
Technical Sentiment Signal: Hold
Current Market Cap: 194.7B INR
See more data about WELCORP stock on TipRanks’ Stock Analysis page.