Welspun Living Limited announced that its Board of Directors, on March 19, 2026, approved the acquisition of a 35% stake in Welspun Corporate Services Limited (WCSL) for ₹35,000. The board also accepted the resignation of Mr. Rajesh Jain as CHRO, effective March 31, 2026, and appointed Ms. Sonia Sharma as VP – Human Resource starting April 01, 2026. Furthermore, capital expenditure for RE power transmission to the Anjar facility was increased to ₹159.38 Crore.
Acquisition of Stake in Welspun Corporate Services Limited (WCSL)
The Board of Directors has formally approved the acquisition of a 35% equity shareholding in Welspun Corporate Services Limited (WCSL), which was formerly known as Welspun Home Textiles Limited. The consideration for acquiring 3,500 equity shares of ₹10/- each amounted to ₹35,000/-. The remaining 65% stake will be acquired by other Welspun Group entities. Following this acquisition, WCSL will become an associate company of Welspun Living Limited. WCSL is being established as a centralized corporate services platform for the entire Welspun Group.
This acquisition falls under related party transactions as WCSL is within the promoter group, but the acquisition will be executed on an arms’ length basis. The indicative time period for completion is set for March 31, 2026.
Changes in Senior Management Team
Based on the recommendation of the Nomination and Remuneration Committee, the Board noted the following management changes:
- Resignation: Mr. Rajesh Jain resigned from his position as Chief Human Resources Officer (CHRO) and member of the Senior Management Team, effective close of business hours on March 31, 2026.
- Appointment: Ms. Sonia Sharma was approved as the new Vice President – Human Resource, effective April 01, 2026. She will also join the Senior Management Team. Ms. Sharma brings over two decades of experience across the Welspun Group.
Increase in Capital Expenditure for Anjar Facility
The Board further approved an increase in the planned capital expenditure related to the transmission of Renewable Energy (RE) power to the Anjar facility. This expenditure has been increased from the previously announced Rs. 75 Crore to Rs. 159.38 Crore. This revision covers costs associated with CTU connectivity, land acquisition, sub-station bay, and erection of transmission lines.
The meeting commenced at 12:30 P.M., and all agenda items were approved by 2:15 P.M. on Thursday, March 19, 2026.
Source: BSE
