Date: 9th June, 2026
Divestment / Strategic Actions
Welspun Corp Limited's wholly owned subsidiary, Welspun Mauritius Holdings Limited (WMHL), has divested 4.5% equity stake in East Pipes Integrated Company for Industry (EPIC), Kingdom of Saudi Arabia (KSA).
Transaction Details:
- Stake sold: 4.5% equity stake in EPIC
- Method: Series of negotiated trades on Tadawul Stock Exchange, KSA
- Transaction date: 9th June, 2026
- Consideration: SAR 283.46 million (approximately US$ 75.59 million)
- Buyer: Identified financial investors
Post-Transaction Ownership:
Following this divestment, Welspun Pipes Inc., USA (wholly owned subsidiary of Welspun Corp Limited) will continue to hold 22% equity stake in EPIC.
EPIC Financial Performance (as of 31st March, 2026):
- Revenue: SAR 2,298 million
- Profit before Tax: SAR 621 million
- Net Worth: SAR 1,564 million
Regulatory Compliance:
- The transaction does not qualify as a related party transaction
- No agreement for sale was applicable as EPIC is a listed entity
- Transaction completed on 9th June, 2026
- Not a slump sale or part of any Scheme of Arrangement
Other Operational / Legal / Strategic Disclosures
The disclosure is made pursuant to:
- Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026