Welspun Corp Limited has completed an intragroup transaction involving the transfer of a 22% stake in East Pipes Integrated Company for Industry (EPIC) between its wholly owned subsidiaries. The transaction was executed on March 24, 2026, and represents an internal reorganization with no change in ultimate ownership.

Transaction Details

The transfer involved 69,30,000 equity shares of EPIC, moving from Welspun Mauritius Holdings Limited (WMHL) to Welspun Pipes Inc (WPI), both wholly owned subsidiaries of Welspun Corp. The transaction was completed on the Tadawul Stock Exchange, where EPIC shares are listed.

Company Background

EPIC operates in the manufacturing of pipes, tubes and hollow shapes from iron and steel, aligning with Welspun Corp's core business activities. The company was incorporated on July 4, 2010, and is based in the Kingdom of Saudi Arabia.

EPIC Financial Performance

Operational Impact

Following the completion of this transaction, EPIC transitions from being an associate company of WMHL to becoming an associate company of WPI. However, since both entities are wholly owned subsidiaries of Welspun Corp, the ultimate ownership structure remains unchanged.

The company has confirmed that this internal reorganization:

• Does not result in any change in ultimate ownership
• Is not expected to have any material impact on operations
• Will not affect the financial position of the company
• Is unlikely to impact profitability

Regulatory Compliance

The transaction was disclosed under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The transfer was conducted as a related party transaction on an arm's length basis, with both subsidiary boards approving the acquisition and sale respectively.

The transaction required no governmental or regulatory approvals and has been completed as announced. This internal restructuring reflects Welspun Corp's ongoing organizational optimization within its subsidiary structure while maintaining its strategic position in the pipes and steel manufacturing sector.

Welspun Corp Limited has successfully incorporated its wholly-owned subsidiary in the United Arab Emirates, marking a significant step in expanding its global marketing operations. The company received the Certificate of Incorporation on February 25, 2026, from the Dubai Multi Commodities Centre (DMCC) authority.

Subsidiary Details and Structure

The newly incorporated entity, named Welspun International FZCO (WIFZCO), has been established in the Dubai Multi Commodities Centre Free Trade Zone. The subsidiary represents a strategic move to enhance the company's international presence and marketing capabilities.

Business Objectives and Operations

WIFZCO will serve as the global marketing hub for all Welspun products, focusing on international marketing and trading activities. The subsidiary is positioned to handle comprehensive trading operations involving products and raw materials that the parent company and its subsidiaries currently transact in.

The establishment follows the company's earlier disclosure dated October 30, 2025, regarding the planned incorporation of the wholly-owned subsidiary in the UAE Free Trade Zone. This strategic initiative aligns with Welspun Corp's expansion plans in international markets.

Regulatory Compliance and Structure

The incorporation has been completed in accordance with SEBI Listing Regulations under Regulation 30, ensuring full compliance with disclosure requirements. The subsidiary operates as a cash consideration-based entity, with no involvement from promoters, promoter groups, or other group companies in the new entity.

The establishment of WIFZCO represents Welspun Corp's commitment to strengthening its global market presence and enhancing its international trading capabilities through a dedicated subsidiary in one of the region's key business hubs.