Image Source: The Economic Times
Welspun Corp, through its subsidiary WMHL, plans to set up Welspun Global IFSC Limited in GIFT City, Gujarat, as a global treasury hub within India’s IFSC framework. The entity will be a step-down wholly owned subsidiary, enhancing Welspun’s global financial management and operational agility.
Show more
Welspun Corp Limited announced that its wholly-owned subsidiary, Welspun Mauritius Holdings Limited (WMHL), has approved the incorporation of a new entity, Welspun Global IFSC Limited, at Gujarat International Finance Tec-City (GIFT City). The move aims to strengthen the group’s financial operations by setting up a global corporate treasury center within India’s International Financial Services Centre (IFSC) ecosystem.
Major Takeaways:
-
The new entity will function as a step-down wholly owned subsidiary of Welspun Corp through WMHL.
-
The proposed company will operate under the Financial Services / Corporate Treasury segment.
-
It will manage regional and global treasury and finance functions for the Welspun Group.
-
Incorporation will proceed after obtaining approval from the Ministry of Corporate Affairs.
-
The capital infusion for share subscription will be via cash consideration.
-
Updates regarding incorporation date and share subscription cost will be shared later.
This strategic expansion aligns with Welspun’s ongoing efforts to consolidate its international financial operations and leverage India’s IFSC framework for global business efficiency.
Sources: BSE India filing, SEBI regulatory disclosure.
Stay Ahead – Explore Now!
Circular Leap: RockingDeals Enters Quick Commerce Through Sustainouest Private Limited
Advertisement
Advertisement