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The networth and turnover of MEPL as on 31 March 2023 was Rs 200.11 crore and Rs 319.57 crore, respectively.
The transaction is expected to be completed within 4 weeks, subject to completion of conditions precedent as detailed in the SPA, the company added.
"Hence, MEPL shall cease to be associate of the company on completion of the transaction,” Authum Investment said in a statement.
Authum Investment & Infrastructure is a registered NBFC carrying on the business of investment in shares and securities and also financing activities.
Shares of Authum Investment rose 0.57% to Rs 377.65 while those of Welspun Enterprises declined 0.65% to Rs 237.70 on the BSE.
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