Welspun Corp proposes to acquire steel biz from demerged company

30 Jun 2021 CW Team

The scheme calls for the demerged undertaking to be demerger and the demerged undertaking's investments in Welspun Specialty Solutions Limited (WSSL) (50.03 %), Anjar TMT Steel Private Limited (ATSPL) (100 %), and Welspun Captive Power Generation Limited (WCPGL) to be sold (2.95 %).

The company informed the exchange that the company's Board of Directors decided to propose the scheme of arrangement between Welspun Steel Limited (WSL) and Welspun Corp to NCLT for the transfer of WSL's steel division to the company, subject to regulatory and other approvals, at its meeting on June 28, 2021.

After thorough due diligence by the Independent Agencies, the Board has decided to propose the Scheme of Arrangement to NCLT, the company added. The Rs 362.73 crore consideration will be paid in 6% Cumulative Redeemable Preference Shares, redeemable after 18 months from the date of issuance, with no equity dilution for WCL shareholders.

WSL is a privately held company, based in Welspun City, Anjar. It produces BIS Certified Steel Billets and Direct Reduced Iron (DRI) in its steel division and is working on a Greenfield project to produce TMT bars. The project is expected to cost Rs 175 cr (plus soft costs) and be completed by September 2022, according to the company.

WSL also owns 50.03 % of Welspun Specialty Solution Ltd (WSSL), a listed company, as part of its steel division.

The indirect acquisition of control of WSSL is exempt from making an open offer under the provisions of the SEBI (SAST) Regulations, 2011, because the stakeholders holding not less than 50% of the equity shares in the WSL (holding company of WSSL) are the same stakeholders holding not less than 50% equity shares in the Welspun Corp, the company stated.

Image Source

Also read: JSW Steel finalises Welspun Steel division acquisition for Rs 848 cr

Also read: Welspun One launches online land buying and leasing platform

Welspun Corp will purchase the demerged company Welspun Steel Limited (WSL), which is in the business of producing BIS Certified Steel Billets and Direct Reduced Iron (DRI), specialty steel, and thermomechanical treatment bars. The scheme calls for the demerged undertaking to be demerger and the demerged undertaking's investments in Welspun Specialty Solutions Limited (WSSL) (50.03 %), Anjar TMT Steel Private Limited (ATSPL) (100 %), and Welspun Captive Power Generation Limited (WCPGL) to be sold (2.95 %). The company informed the exchange that the company's Board of Directors decided to propose the scheme of arrangement between Welspun Steel Limited (WSL) and Welspun Corp to NCLT for the transfer of WSL's steel division to the company, subject to regulatory and other approvals, at its meeting on June 28, 2021. After thorough due diligence by the Independent Agencies, the Board has decided to propose the Scheme of Arrangement to NCLT, the company added. The Rs 362.73 crore consideration will be paid in 6% Cumulative Redeemable Preference Shares, redeemable after 18 months from the date of issuance, with no equity dilution for WCL shareholders. WSL is a privately held company, based in Welspun City, Anjar. It produces BIS Certified Steel Billets and Direct Reduced Iron (DRI) in its steel division and is working on a Greenfield project to produce TMT bars. The project is expected to cost Rs 175 cr (plus soft costs) and be completed by September 2022, according to the company. WSL also owns 50.03 % of Welspun Specialty Solution Ltd (WSSL), a listed company, as part of its steel division. The indirect acquisition of control of WSSL is exempt from making an open offer under the provisions of the SEBI (SAST) Regulations, 2011, because the stakeholders holding not less than 50% of the equity shares in the WSL (holding company of WSSL) are the same stakeholders holding not less than 50% equity shares in the Welspun Corp, the company stated. Image Source Also read: JSW Steel finalises Welspun Steel division acquisition for Rs 848 cr Also read: Welspun One launches online land buying and leasing platform

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Infrastructure Urban

01 Jun 2026

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

Infrastructure Urban

01 Jun 2026

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..