Welspun India acquires 51% stake in Pure Sense Organics Myanmar Ltd

ANJAAR (KUTCH) | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to the Indian Bourses late in evening on Wednesday, Welspun India Ltd said of having acquired 51% stake in Pure Sense Organics Myanmar Ltd.

Regulatory update filed by the company read that, The Company has entered into joint venture with Sense Organics Import & Trading GmbH, Germany (“SOIT”) and has acquired 51% of the share capital, at, par, of Pure Sense Organics Myanmar Limited (“PSOML”), a company incorporated under the Myanmar Companies Act 2018 on January 24, 2018 and will be investing amounts upto US$ 140,000 during year 2019, as a part of the Company’s sustainable sourcing strategy.

Neither SOIT nor PSOML are related parties of the Company.

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