Welspun Enterprises’ board has decided to remain focussed on infrastructure space and not to invest in the yet-to-be-operational Welspun Financial Services (WFSL). WEL has invested till date Rs 13.5 million for its 60% stake in WFSL, which would be transferred to the Welspun Promoter Group at book value. Therefore, WFSL would be completely controlled by the Welspun Promoter Group. The Board of Directors at its meeting held on December 19, 2017 has decided for the same.
Welspun Enterprises, formerly Welspun Projects, part of the Welspun Group, is an operating company in the infrastructure business. The company also has investments in Oil & Gas Exploration.