Sells 51% stake in captive power unit to promoter group firm for Rs 67.66 Cr
WELSPUNLIV · price
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Welspun Living board approved sale of its 51% stake in subsidiary Welspun Captive Power Generation (WCPGL) to promoter group firm Welspun Corp for Rs 67.66 Crores. WCPGL contributes just 1.30% of total income and 4.11% of net worth. The sale is a related party transaction at arms length pricing, after which WCPGL becomes an associate instead of subsidiary. The move supports the companys renewable energy push. Separately, the board cleared Rs 121 Crore capex for de-bottlenecking at its Anjar plant. Deal expected to close by August 31, 2026.
Non-core divestment to promoter group. WCPGL is only 1.3% of income, so impact is limited. Funds likely redirected to renewable energy shift and Anjar plant upgrade.