Welspun Living Limited announced that its Board of Directors approved the acquisition of a 35% stake in the newly designated subsidiary, Welspun Corporate Services Limited (WCSL), for ₹35,000. Additionally, the Board noted the resignation of Mr. Rajesh Jain, CHRO, effective March 31, 2026, and approved the appointment of Ms. Sonia Sharma as VP – Human Resource, effective April 01, 2026. Finally, capital expenditure for the Anjar facility power transmission was increased to ₹159.38 Crore.
Strategic Acquisition of WCSL Stake Approved
The Board of Directors of Welspun Living Limited, in its meeting held on March 19, 2026, approved the acquisition of a 35% stake in Welspun Corporate Services Limited (“WCSL”) (formerly Welspun Home Textiles Limited). The Company will purchase 3,500 equity shares at ₹10/- per share, amounting to a total consideration of ₹35,000/- in cash. The remaining 65% stake will be acquired by other Welspun Group entities. Post-acquisition, WCSL will become an associate company of Welspun Living Limited.
WCSL is being established as a centralized corporate services platform for the Welspun Group, offering integrated management and support services, including legal, regulatory, taxation, and corporate restructuring. The indicative time period for the completion of the acquisition is set for March 31, 2026. The transaction is structured as a related party transaction but executed on an arm’s length basis. WCSL was incorporated on June 06, 2024, and currently reports Nil turnover.
Key Changes in Senior Management
The Board noted significant transitions within the management team based on the recommendation of the Nomination and Remuneration Committee:
- Resignation: Mr. Rajesh Jain has resigned as Chief Human Resources Officer (CHRO) and a member of the Senior Management Team, effective at the close of business on March 31, 2026.
- Appointment: Ms. Sonia Sharma has been appointed as Vice President – Human Resource, effective April 01, 2026, and will also join the Senior Management Team. Ms. Sharma brings over two decades of experience across the Welspun Group.
The board noted that Ms. Sharma is not related to any Director of the Company.
Increase in Capital Expenditure for Anjar Facility
In continuation of a previous announcement from April 25, 2024, the Board approved an increase in capital expenditure dedicated to the transmission of Renewable Energy (RE) power to the Anjar facility. The sanctioned expenditure has been revised from Rs. 75 Crore to Rs. 159.38 Crore. This revised outlay covers costs related to CTU connectivity, land acquisition, sub-station bay, and erection of transmission lines.
The Board meeting commenced at 12:30 P.M. and all agenda items were formally approved by 2:15 P.M. on March 19, 2026.
Source: BSE
