Welspun Enterprises Limited (NSEI:WELENT) agreed to acquire 50.1% stake in Michigan Engineers Pvt. Ltd. from Authum Investment & Infrastructure Limited (BSE:539177) and Sansaar Housing Finance Limited for INR 1.4 billion on July 27, 2023. Michigan Engineers reported turnover of INR 3.1957 billion and profit after tax of INR 350.7 million FY 22-23. The transaction has been approved by board of Welspun Enterprises.

Welspun Enterprises Limited (NSEI:WELENT) Completed the acquisition of 50.1% stake in Michigan Engineers Pvt. Ltd. from Authum Investment & Infrastructure Limited (BSE:539177) and Sansaar Housing Finance Limited on August 21, 2023. Michigan Engineers Pvt. Ltd reported Total Common equity of INR 2 billion as of March 31, 2023.