Welspun Living to sell 51% in WCPGL to Welspun Corp for Rs 67.66 Cr; Rs 121 Cr capex approved
WELSPUNLIV · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved in line with Nifty Smallcap 250 and 0.6 pts more than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Welspun Living board approved transferring its 51% stake (about 1.5 crore equity shares) in subsidiary Welspun Captive Power Generation (WCPGL) to promoter group firm Welspun Corp for Rs 67.66 Crore. WCPGL contributed 1.30 percent of company total income and 4.11 percent of net worth. Post deal, WCPGL will cease to be a subsidiary and become an associate. The related party deal is at arm's length, with completion targeted by August 31, 2026. The board separately approved Rs 121 Crore capex for modernization at the Anjar textile facility.
Minor divestment of non-core captive power unit to promoter group; Rs 121 Cr capex for textile plant upgrade. Neutral to mildly positive.