Welspun Living Limited Cancels Acquisition of 26% Equity Stake in Clean Max
Welspun Living Limited (WLL) has announced the cancellation of its proposed acquisition of a 26% equity stake in Clean Max Dhyuthi Private Limited. The transaction, which was previously scheduled for completion by August 31, 2026, was mutually abandoned by WLL and Welspun Corp Limited (WCL).The acquisition pertained to 48,599 equity shares of Clean Max, which was engaged in the generation and supply of solar and renewable energy under a captive model. These shares, with a face value of Rs. 10/- each, represented 26% of the total paid-up equity share capital of CleanMax.
The deal was set to be completed by WLL, which had approved the purchase, from WCL, a promoter group company. The total consideration for the acquisition was set at Rs. 760 lakhs.
The company stated that the decision to cancel the transaction came after WLL and WCL mutually agreed not to proceed with the proposed acquisition or sale of the 26% equity stake. This decision was based on the current demand, supply, and availability of power at the relevant location.
WELSPUNLIV Stock Price Movement
Welspun Living Limited shares rallied on Monday, gaining 2.44% and settling at ₹196.21. The stock successfully hit its 52-week high, reaching a peak of ₹198, amid heavy trading volume of 3.87 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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