Welspun Living is seeking shareholder approval through a postal ballot to appoint Keyur Parekh as Whole-time Director (WTD) for a five-year term effective June 01, 2026. The appointment, recommended by the Nomination and Remuneration Committee, marks a significant leadership transition as Parekh, currently serving as CEO of Global Business at the company, assumes broader executive responsibilities. Shareholders must cast their votes electronically between July 28, 2026, and August 26, 2026, with results declared by August 28, 2026.

The proposal was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and pursuant to Sections 108 and 110 of the Companies Act, 2013. The Board approved the appointment during its meeting held on May 15, 2026, initially designating Parekh as an Additional Director with effect from June 01, 2026. The postal ballot notice, dated July 24, 2026, was dispatched via email on July 27, 2026, to members registered as on the cut-off date of July 23, 2026.

Voting Timeline and Process

Shareholders holding shares in physical or dematerialized form as on July 23, 2026, are eligible to vote. The e-voting facility is provided by National Securities Depository Limited (NSDL). The voting window opens at 9:00 A.M. IST on Tuesday, July 28, 2026, and closes at 5:00 P.M. IST on Wednesday, August 26, 2026. M/s. MNB & Co. LLP has been appointed as the scrutinizer to ensure a fair and transparent voting process.

Appointment Details and Remuneration

Keyur Parekh brings over 28 years of professional experience, including more than 17 years with the Welspun Group. He holds a postgraduate degree in Business Management, an Executive Leadership Program certification from IIM Bangalore, and a Design Thinking certification from MIT. He currently serves as a Director at Welspun USA and Welspun Global Brands Limited.

The proposed remuneration structure for the five-year tenure (June 01, 2026, to May 31, 2031) includes fixed and variable components linked to individual and company performance. The Board has the authority to revise remuneration annually by up to 15% based on performance metrics.

Parekh is also eligible for perquisites, allowances, and ESOPs/LTIPs as per company policy. In the event of inadequate profits, he is entitled to minimum remuneration as per Schedule V of the Companies Act, 2013. As on the date of the notice, Parekh holds 48,193 equity shares in the company and is not related to other directors or key managerial personnel.

Welspun Living has approved a capital expenditure of ₹121 crore for the de-bottlenecking and modernization of its manufacturing plant in Anjar, Gujarat. The Board of Directors also sanctioned the sale of its 51% stake in subsidiary Welspun Captive Power Generation Limited (WCPGL) to promoter group entity Welspun Corp Limited (WCL) for ₹67.66 crore. These strategic moves aim to upgrade production technology to meet market demands and increase the utilization of renewable energy within the group.

The board meeting was held on July 24, 2026, and the decisions were made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction involving WCPGL is classified as a related-party transaction and will be executed on an arm’s-length basis. The agreement for the sale is expected to be executed by August 31, 2026, which is also the targeted completion date for the disposal.

The approved capex at the Anjar facility focuses on replacing old technology with advanced systems. This investment is designed to enhance plant utilization and better align production capabilities with current market requirements. The modernization project represents a significant commitment to operational efficiency at the company’s key manufacturing hub.

Regarding the divestment, Welspun Living currently holds a 77% equity stake in WCPGL. The transaction involves the transfer of 1,50,64,213 equity shares, each with a face value of ₹10. Upon completion, WCPGL will cease to be a subsidiary and will become an associate company of Welspun Living. This restructuring supports the company’s broader initiative to integrate renewable energy sources, following the operationalization of the transmission line connecting the group captive power plant, as previously disclosed on March 19, 2026.

Financial Impact of WCPGL Divestment

The filing provides details on the financial contribution of WCPGL to the parent company during the last financial year, highlighting the scale of the unit being transferred.

Strategic Implications

The divestment of WCPGL to Welspun Corp Limited centralizes captive power generation under the promoter group, potentially streamlining energy procurement for Welspun Living. With the transmission line already operational, the company can continue to receive renewable energy from the facility post-transfer. The ₹121 crore capex at Anjar signals a focus on capacity optimization rather than expansion, aiming to improve margins through technological upgrades and better asset utilization.