Textile firm Welspun India today said it has received approval from the Gujarat High Court for the de-merger and transfer of its two divisions to two firms.
The High Court has approved the composite scheme of arrangement between Welspun India, Welspun Global Brands and Welspun Investments, it said in a filing to the BSE.
Under the scheme, the company's two divisions — marketing and investment & treasury — would be demerged into Welspun Global Brands and Welspun Investments, respectively.
"The order (of High Court) becomes effective from June 12," it added.
