Welspun Enterprises has informed that the Hon’ble High Court of Gujarat at Ahmedabad vide its order dated February 03, 2016 and the Hon’ble High Court of Judicature of Bombay vide its order dated March 23, 2016 have sanctioned modifications to the Scheme which provided for recording of the equity shares issued by the Company pursuant to the Scheme at fair value (Rs 59 per share) and the same is consequently resulting into reduction of the Capital Reserves, and correspondingly increase in the Securities Premium of the Company, by Rs 773 Cr. The modified Scheme has become effective on April 28, 2016 being the date of filling the form INC-28 with the concerned Registrar of Companies.
The above information is a part of company’s filings submitted to BSE.
