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Welspun Corp Limited - 532144 - Business Update - March 17, 2023

 This is in furtherance of our disclosure dated February 6, 2023. We hereby inform you that the Hon'ble National Company Law Tribunal, Ahmedabad Bench has pronounced its order approving the resolution plan submitted by the consortium of Propel Plastic Products Private Limited, a wholly owned subsidiary of Welspun Corp Limited ('WCL') and Plastauto Private Limited (earlier known as Tubular Pipes Private Limited), a related party of WCL (together, 'Consortium') in respect of the corporate insolvency resolution process of Sintex-BAPL Limited on March 17, 2023. The above is in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and the Company's Code of Practices and Procedure for Fair Disclosure of Unpublished Price Sensitive Information.
17-03-2023
Bigul

Welspun Corp Limited - 532144 - Announcement under Regulation 30 (LODR)-Resignation of Director

 Kindly note that Mr. Deshraj Dogra (DIN - 00226775) has tendered his resignation from the position of the Independent Director of the Company with effect from March 14, 2023 due to personal reasons and other commitments and desire to pursue areas of personal interest. The resignation letter submitted by Mr. Deshraj Dogra is enclosed. Mr. Deshraj Dogra has confirmed in the aforesaid resignation letter that there are no other material reasons for his resignation.
14-03-2023
Bigul

Welspun Corp Limited - 532144 - Announcement under Regulation 30 (LODR)-Change in Directorate

 Pursuant to Regulation 30 and Regulation 51 read with Schedule III to the Listing Regulations, we are pleased to inform you that the Board of Directors of the Company ("Board"): At its meeting held on March 14, 2023 have, inter alia, considered and approved appointment of Mr. Anjani Kumar Agrawal as a Non-Executive Independent Director of the Company for first term of four years with effect from April 1, 2023. Further, kindly note that Mr. Deshraj Dogra (DIN - 00226775) has tendered his resignation from the position of the Independent Director of the Company with effect from March 14, 2023 due to personal reasons and other commitments and desire to pursue areas of personal interest.
14-03-2023
Bigul

Welspun Corp Limited - 532144 - Announcement under Regulation 30 (LODR)-Scheme of Arrangement

 Pursuant to Regulation 30 and Regulation 51 read with Schedule III to the Listing Regulations, we are pleased to inform you that the Board of Directors of the Company ("Board") :- At its meeting held on March 14, 2023 have, inter alia, considered and approved the amalgamation of Welspun Metallics Limited ('the Amalgamating Company') with the Company, by way of merger by absorption pursuant to a scheme of arrangement under the provisions of Sections 230 - 232 and other applicable regulatory requirements (the 'Scheme'). The Amalgamating Company is an unlisted public limited company incorporated under the provisions of the Companies Act, 2013 and is a wholly owned subsidiary of the Company. The equity shares of the Company are listed on BSE Limited ('BSE') and National Stock Exchange of India Limited ('NSE') (BSE and NSE are collectively referred to as the 'Stock Exchanges'). The non-convertible debentures of the Company are listed on the BSE.
14-03-2023
Bigul

Welspun Corp Limited - 532144 - Business Update - March 10, 2023

 Welspun Corp Limited is pleased to inform that Welspun Metallics Limited (WML), a wholly owned subsidiary of the Company, has received multiple export orders of ~43 KMT for Pig Iron across South East Asia and Europe. These orders will be executed within next two months. Commenting on the achievement, MD & CEO of the Company, Mr. Vipul Mathur said, 'Being the first export of Pig Iron from WML marks a key milestone for us. This reflects our continuous journey towards bringing quality products for customers across the world. We are geared up for the future opportunities and ready to be a reliable partner to global customers for this new product segment as well'. The above is in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and the Company's Code of Practices and Procedure for Fair Disclosure of Unpublished Price Sensitive Information.
10-03-2023
Bigul

Welspun Corp Limited - 532144 - Business Update - March 9, 2023

 Welspun Corp Limited is pleased to inform that Welspun DI Pipes Limited, a wholly owned subsidiary of the Company, has received the 'Kitemark' certificate by BSI UK for size range of 100 to 1,000 DN against EN 545 and ISO 2531 standards. These are the international standards for Ductile Iron pipes used for transportation of potable water. Commenting on the achievement, MD & CEO of the Company, Mr. Vipul Mathur said, 'Kitemark certification is one of the toughest certification in Ductile Iron pipes. This has a wide acceptance in Commonwealth countries, and in general many other countries in South East Asia, Middle East, Africa and Europe. This achievement is testimony to our state-of-the-art manufacturing setup and compliance to international quality standards which is at the core of our operations. This will immensely help us to expand our international customer base as well as open multiple business opportunities in the aforesaid highly remunerative markets'.
09-03-2023
Bigul

Welspun Corp Limited - 532144 - Disclosure Under The SEBI (Listing Obligations And Disclosure Requirements), Regulations 2015 - Specified Assets Lying At Dahej Shipyard Of The Company.

 This is further to our last announcement dated February 17, 2023 with respect to purchase of certain specified assets of ABG Shipyard Limited in liquidation process under the provisions of the IBC, 2016. We are now pleased to inform that the Company has entered in to an agreement on March 6, 2023 with a reputed steel trader (the 'Buyer') for liquidation of a part of specified assets lying at Dahej Shipyard of the Company for an consideration of approx Rs. 360+ Crore. This part of the specified assets would be lifted and liquidated within a period of ~9 months. This part of the specified assets is being sold on an 'as is, where is, with all faults', 'as is what is', 'whatever there is', 'no recourse' basis. The Buyer has paid 10% of the consideration as an interest free security deposit. The Buyer is neither related to the promoter/promoter group/ group companies of the Company in any manner nor is a related party to the Company. The Company does not hold any share in the Buyer.
07-03-2023

Welspun Corp shares climb 5% after receiving order from Middle East

 Welspun Corp has received a contract for export of LSAW pipes and bends to the Middle East. The company will execute this contract at Anjar facilities in FY23-24.
01-03-2023
Bigul

Welspun Corp Limited - 532144 - Business Update - March 1, 2023

 WCL is pleased to inform that it has been awarded a prestigious contract for export of LSAW Pipes and Bends to the Middle East which will be executed from its facilities in Anjar, India in FY 23-24. The contract is for approximately 83,000 MT bare pipes with an option of coating exercisable by the project owner subsequently. Pipes supplied will be used for offshore production and transport of gas, which will accelerate and enhance LNG export infrastructure in one of the largest LNG producing and exporting country in the World. This latest award is a testament to our engineering excellence, impeccable track record and dedication to delivering innovative solutions that meet the unique needs of our clients. The energy scenario across the globe is changing due to various geopolitical reasons and we are well-placed to secure further projects in the Oil & Gas sector, both in international as well as domestic market.
01-03-2023
Bigul

Welspun Corp Limited - 532144 - Business Update

 In continuation of earlier announcement, this is to further inform that: 1. Big Shot has discharged the consideration to the creditors of SPIL for an amount aggregating Rs. 30 Crore in the form of Upfront Cash. Further, SPIL has entered into definitive documents for discharge of deferred consideration with the lenders for Rs. 20 Crore in the form of unsecured loan to be discharged at earlier of a) 3 years from the Effective Date (February 24, 2023) or b) upon monetization of identified properties; 2. Pursuant to the said implementation, Big Shot has merged with SPIL with effect from February 24, 2023; and 3. Consequent to the merger as mentioned above, SPIL has allotted equity shares to the shareholders of Big Shot viz., WCL in accordance with the Scheme of Arrangement provided under the Approved Resolution Plan. Pursuant to the allotment of equity shares to WCL, SPIL has become the wholly owned subsidiary of WCL.
24-02-2023
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