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

twitter-logoPTI | January 9, 2018 | Updated 12:36 IST

New Delhi, Jan 9 (PTI) 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 USD 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 per cent higher at Rs 73.40 per scrip on BSE. PTI SVK ANU

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