Welspun Corp has demerged its subsidiary Welspun Infra Enterprises into separate entity and renamed it as Welspun Enterprises. The demerged entity will focus on business related to steel, infrastructure, oil and gas exploration and energy, while Welspun Corp will exclusively focus on pipes and plates business in India and globally.
The demerger will create a mirror shareholding across both entities resulting in no dilution for any of the existing shareholders. The company received its board’s approval for the same at its meeting held on May 30, 2013.
Welspun Corp, the flagship company of the $3.5 billion Welspun Group, is one stop service provider offering complete pipe solution with a capability to manufacture line pipes ranging from half inch to 120 inches, along with specialized coating, double jointing and bending.
