The Hindu Business Line : Welspun members okay FII limit hike

WELSPUN India Ltd has informed the Bombay Stock Exchange that the members of the company, vide postal ballot, have approved the resolution authorising the board to give guarantee to secure enhanced working capital facility of Rs 45 crore (including the guarantee given for Rs 33.33 crore) availed of by Glofame Cotspin Industries Ltd.

It also approved the resolution authorising the increase in limits of FII investment in the company from the present limit of 24 per cent to 40 per cent.

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