Welspun Corp Limited, through its wholly owned subsidiary Welspun Mauritius Holdings Limited (WMHL), has divested a 4.5% equity stake in East Pipes Integrated Company for Industry (EPIC), a listed entity on the Tadawul Stock Exchange in Saudi Arabia. The stake was sold through a series of negotiated trades on 9 June 2026 in favour of identified financial investors.
The aggregate consideration from the divestment amounted to SAR 283.46 million, approximately US$ 75.59 million. This follows a prior disclosure by Welspun Corp to the stock exchanges on 24 March 2026 regarding the proposed transaction.
Following the transaction, Welspun Pipes Inc. USA, another wholly owned subsidiary of Welspun Corp Limited, will hold a 22% equity stake in EPIC. Welspun Corp had previously communicated its intent regarding this divestment on 24 March 2026.
EPIC reported a revenue of SAR 2,298 million and a profit before tax of SAR 621 million for the fiscal year ended 31 March 2026. The net worth of EPIC stood at SAR 1,564 million as of that date.
None of the buyers belong to the promoter, promoter group, or group companies of Welspun Corp. The transaction was conducted at arm's length and does not qualify as a related party transaction. The sale was not executed under any scheme of arrangement.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.