Welspun Projects said that on the recommendation of the audit committee, its board of directors had on November 4 approved the scheme of amalgamation and arrangement between Welspun Enterprises, Welspun Infratech, Welspun Plastics, Welspun Infra Projects and Welspun Projects.
The purpose of the merger is to capitalise on the market opportunities with a consolidated cash of Rs 800 crore, the company said in a communication to the stock exchange.