Welspun Corp Acquires 49% Stake in WSCPL for IFBE Plant

Welspun Corp Limited announced its Board of Directors has approved the acquisition of a 49% direct stake in Welspun Special Coating Private Limited (WSCPL), a step-down subsidiary. This move is part of the company's strategy to set up an IFBE (Induction Furnace and Billet Making) plant in India. The Board also approved a capital expenditure of USD 115 million for an additional Spiral Pipe facility in the USA, increasing capacity by 225 KMTPA, expected to be operational by March 2028. Additionally, Welspun Corp and Perma-Pipe will jointly invest up to USD 125 million in Jordan for pipe manufacturing and coating facilities. The company also reported its unaudited financial results for the quarter and half-year ended September 30, 2026, and approved the re-appointment of two Independent Directors.