Welspun Living Ltd approves sale of Welspun Home Solutions Ltd

The Board of Directors of Welspun Living Limited (Formerly known as Welspun India Limited) has approved sale of 100% equity shares of Welspun Home Solutions Limited, a wholly owned subsidiary of the Company to Welspun Advanced Materials (India) Limited, a wholly owned subsidiary of the Company.

On completion of the aforesaid sale, Welspun Home Solutions Limited shall cease to be a wholly owned subsidiary of the Company and shall become a stepdown wholly owned subsidiary of the Company.

The consideration received from the sale is INR 9.40 Crore.

Shares of Welspun India Limited was last trading in BSE at Rs. 160.05 as compared to the previous close of Rs. 156.70. The total number of shares traded during the day was 221689 in over 3957 trades.

The stock hit an intraday high of Rs. 161.75 and intraday low of 156.15. The net turnover during the day was Rs. 35288704.00.

Source : Equity Bulls

Keywords

WelspunLiving INE192B01031 StakeSale WelspunHomeSolutions