Welspun India sets up US arm to invest in e-commerce firms

1 min read 09 Jan 2018, 02:24 PM IST

PTI

Welspun India has incorporated a wholly-owned subsidiary Welspun Nexgen in US, having paid-up capital of $4.25 million, to make investment in e-commerce companies

Shares of Welspun India were trading 2.23% higher at Rs73.40 per scrip on BSE. Photo: Mint

New Delhi: Textile firm Welspun India has incorporated a wholly-owned subsidiary in the US to invest in e-commerce companies.

“The company has incorporated a wholly-owned subsidiary Welspun Nexgen Inc. registered with the state of Delaware, US having paid up capital of $4.25 million to make investment in e-commerce companies," Welspun India said in a BSE filing.

The firm, however, did not elaborate on the matter.

Shares of Welspun India were trading 2.23% higher at Rs73.40 per scrip on the BSE.

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Published: 09 Jan 2018, 02:24 PM IST

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