Home / Knowledge / News / Welspun India to de-merge its divisions
Welspun India to de-merge its divisions
16
Sep '08
Welspun India ltd, (WIL), part of US$ 3 billion Welspun Group announced the de-merger of its Distribution & Marketing and Investment Divisions into two separate companies at cost basis. This will allow strategic focus on specific tiers of the businesses and thus shall enable better business control, flexibility on business operations and leveraging International focus of the Group.

The Distribution & Marketing Company which will hold all the international businesses and Welspun Retail Limited (WRL) will be known as Welspun Global Brands ltd. (WGBL) whereas the Investment Company will be known as Welspun Investments Ltd. (WINV).

As a part of this de-merger, WGBl will issue fresh shares to Promoters and shareholders of WIL in lieu of Promoters' and WIL's shareholding in WRL (which is valued at cost basis) and thus WGBL will hold entire equity of WRL. The current shareholders of WIL will be allotted new shares in WGBL and WINV i.e. - shareholders of every 100 shares in WIL will be given 10 shares of WGBL and 5 shares of WINV. Post Demerger, Promoter and Non-Promoter share holding in WGBL shall be 57.6% and 42.4% respectively.

Upon de-merger, both WGBL and WINV will automatically be listed separately on Indian stock exchanges i.e. NSE and BSE.

The above arrangement is subject to necessary statutory and regulatory approvals. The effective date for this de-merger is proposed to be 01.04.2009.

Welspun India, part of US$3 billion Welspun Group is one of the largest Home Textile Companies in the world. It started its activities in 1985 and since then has risen to become one of the largest exporters of Home Textiles in Asia and is amongst the 4th largest terry towel player in the world. Welspun's facilities are located in India (Anjar and Vapi at Gujarat), Mexico, Portugal and in UK. Welspun's International presence is complimented by its acquisition of Christ, UK and Sarema in Portugal.

Welspun India Ltd

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search