Investment26 Mar 2025, 01:46 pm
Welspun Corp Invests Rs. 193 Crores in Subsidiary Welspun Specialty Solutions Limited
AI Summary
Welspun Corp Ltd has invested approximately Rs. 193.00 crores in its subsidiary company, Welspun Specialty Solutions Limited (WSSL), through the subscription of Rights Issue. The investment amounts to 7,31,07,443 equity shares at a price of Rs. 26.40 per share. Post-investment, Welspun Corp's shareholding in WSSL has increased from 50.03% to 51.06%, reflecting a 1.03% rise in its stake in WSSL. WSSL is engaged in the business of manufacturing alloy and stainless steel products and its equity shares are listed on BSE Limited.
Key Highlights
- Welspun Corp Ltd invests approximately Rs. 193.00 crores in its subsidiary, Welspun Specialty Solutions Limited (WSSL).
- The investment is made through the subscription of Rights Issue of 7,31,07,443 equity shares at a price of Rs. 26.40 per share.
- Post-investment, Welspun Corp's shareholding in WSSL increases from 50.03% to 51.06%.
- WSSL is engaged in the business of manufacturing alloy and stainless steel products.
- WSSL's equity shares are listed on BSE Limited.