Welspun India to de-merge its marketing and investment division
Welspun India Ltd, one of the leading Home textiles majors and part of the Welspun group, has informed that it will spin off its marketing and investment divisions into two new firms to streamline operations and boost international business.
According to the company, the demerger will unlock the value of the current business of the company for the shareholders.
The distribution and marketing company will hold all the international businesses as well as retail chain Welspun Retail, and will be re-christened as Welspun Global Brands (WGBL).
Whereas, the other firm will be called as Welspun Investments Ltd and hold investments made in group companies of the Welspun Group, including the listed Welspun-Gujarat Stahl.
Both new firms will be listed separately on the NSE and BSE, following the demerger, which is expected to be completed by April 2009.