Welspun Corp has received its shareholders’ approval to borrow up to Rs 500 crore through issuance of securities on private placement basis. Further, Welspun Corp and Wasco Energy have recently formed a joint venture to set up a concrete weight coating (CWC) plant at Anjar in Gujarat with an investment of Rs 95 crore.
Welspun Corp is currently in four businesses viz Line Pipes, Energy, Infrastructure & Steel and enjoys a global leadership position in the first two businesses. It may be recalled that Welspun Corp is already in advanced stages of demerging the parts of its business other than Line Pipes into Welspun Enterprises through a court process.
