Welspun Projects has acquired 11,503,485 equity shares of Rs 10 each comprising 7.5% of the post issued share capital of Leighton Welspun Contractors (LWIN) on March 28, 2013. The company has acquired the shares pursuant to the agreement dated March 05, 2013 entered into with LWIN for transfer of 70% of EPC order book of the company to LWIN and shareholders’ approval under Companies Act, 1956 for transfer of whole or part of EPC division of the company.
Welspun Corp, ultimate holding company of the company, through its 50% held subsidiary company holds 32.38% equity shares in LWIN. Thus Welspun Group now holds 39.88% equity shares of LWIN.
Welspun Projects (WPL), formerly known as MSK Projects (India), is fully poised to leverage on the burgeoning infrastructure space. The company’s successful execution of projects for the past 35 years has made it a niche player in the construction industry
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