Welspun Corp’s Board of Directors of company in its meeting held on August 13, 2013 accorded their approval for Insight's investment in Welspun Pipes Inc., USA (WPI) currently a wholly owned subsidiary of Welspun Corp. Insight shall subscribe to Compulsorily Convertible Preference Shares resulting in a 10% equity stake post conversion in Welspun Pipes Inc. The funds will enable WPI to further strengthen its financial position. The investment will be subject to necessary approvals.
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
