Welspun Enterprises Ltd has announced the sale of its entire stake in two of its non-operative wholly-owned subsidiaries — Kim Mandvi Corridor Private Limited and Buildtech Projects & Infra Private Limited — to Sherry Exports Private Limited. The company confirmed that the buyer does not belong to its promoter or group entities, and the transaction is not classified as a related party deal.
As per the filing, the transaction was approved by the board on March 27, 2025, and is expected to be completed on or before March 31, 2025. The total consideration for the sale is modest — Rs 3,55,305 for Kim Mandvi Corridor and Rs 93,415 for Buildtech Projects.
Both subsidiaries had no revenue in FY24 and reported a combined net worth deficit of over Rs 33 crore. Specifically, Kim Mandvi Corridor reported a profit before tax of Rs 0.06 crore with a negative net worth of Rs 25.07 crore, while Buildtech Projects posted a loss of Rs 0.45 crore and a negative net worth of Rs 8.10 crore.
The move reflects Welspun’s ongoing rationalization of its group structure by exiting non-core, inactive businesses.
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