New Delhi, Sep 16: Welspun India (WIL), one of the leading Home textiles majors and part of the Welspun group on Tuesday, Sep 16 announced the de-merger of its Distribution and Marketing and Investment Divisions into two separate companies at cost basis.
Such a re-structuring will allow it to have strategic focus on specific tiers of the businesses and therefore will enable better business control, flexibility on business operations and leveraging international focus of the group the textiles major said in a statement. The Distribution and Marketing company will be re-christened as Welspun Global Brands (WGBL) where as the Investment arm will known as Welspun Investments (WINV). WGBL will hold all the international businesses and Welspun Retail (WRL).
As a part of this de-merger, WGBL will issue fresh shares to promoters and shareholders of WIL inlieu of promoters' and WIL's shareholding in WRL and thus WGBL will hold entire equity of WRL, it added.