Welspun Living gets nod to acquire 35% stake in Welspun Corporate Services

Welspun Living has received approval for acquisition of 3,500 equity shares of Rs 10 each of Welspun Corporate Services (WCSL) representing 35% of the total paid-up equity share capital of WCSL at a consideration of Rs 35,000. The balance 65% will be acquired by other Welspun Group entities. WCSL is being positioned as a centralized corporate services platform for Welspun Group entities, providing integrated management and support services including human resources, legal, regulatory and compliance, taxation, corporate restructuring, mergers and amalgamations, strategic advisory and other corporate services. The proposed acquisition is intended to support the establishment and strengthening of WCSL as a centralized umbrella entity for delivering corporate services across the Welspun Group. Consequent to the above acquisition, WCSL will become an associate company of the Company.