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Welspun sets up US subsidiary to invest in e-com firms
09 Jan 18 1 min read
Welspun India Ltd., a leading home textiles company with presence in fifty countries across the world with a distribution network in over 32 countries including the US, Canada, the UK and Australia, has incorporated a wholly owned subsidiary in the US. The new company Welspun Nexgen Inc would invest in companies engaged in e-commerce activities.
“The company has incorporated a wholly owned subsidiary viz. Welspun Nexgen Inc., registered with the state of Delaware, US, having paid-up capital of $4.25 million for making investments in e-commerce companies,” Welspun India said in its disclosure to the stock exchanges.
Welspun, however, did not elaborate further on the matter. (RKS)
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Fibre2Fashion News Desk – India
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