Welspun offloads 37% stake in road JV for Rs 662 crore

Welspun offloads 37% stake in road JV for Rs 662 crore

FPJ BureauUpdated: Friday, May 31, 2019, 07:45 PM IST
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New Delhi : Welspun Enterprises Ltd today said it has divested 37 % stake in its joint venture firm Dewas Bhopal Corridor Pvt Ltd for Rs 662 crore to the IDFC-sponsored fund, India Infrastructure Fund.

“The company still owns 13% equity stake in DBCL, which can be transferred in two years subject to approval of Madhya Pradesh Road Development Corporation Ltd,” Welspun Enterprises said in a BSE filing.

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