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Last Updated : Jul 26, 2017 01:44 PM IST | Source: CNBC-TV18

Expect to get NBFC licence by Q3 of FY18: Welspun Enterprises

In an interview to CNBC-TV18, Sandeep Garg, MD of Welspun Enterprises spoke about the latest happenings in the company.

Welspun Enterprises is in focus as the company is going to acquire 49 percent stake in two hybrid annuity model (HAM) projects of MBL Infrastructures.

The company is also going to apply for a non-banking financial company (NBFC) licence where they will hold 60 percent stake while the remaining 40 percent will be held by the Welspun promoter group.

In an interview to CNBC-TV18, Sandeep Garg, MD of Welspun Enterprises spoke about the same and the latest happenings in the company.

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"MBL has financial difficulty right now, it is a very profitable project for them but given the situation with MBL Infra, they have chosen to take us as a sponsor," said Garg.

On NBFC plans, he said there is no plan to spin-off NBFC into separate unit.

Garg expects to get the NBFC licence by Q3 of FY18.

Speaking about the core business, he said order book target is at Rs 4,000-4,500 crore for this year.

Welspun Enterprises will invest around Rs 250 crore in the hybrid annuity model projects.

Watch accompanying video for more details.
First Published on Jul 26, 2017 11:48 am
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