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Welspun Corp Limited (WCL), a flagship company of the Welspun Group, announced several significant outcomes from the meeting of its Board of Directors held earlier. The Board approved the unaudited financial results for the quarter ended June 30, 2024. Key highlights include strong performance indicators reflecting the company’s robust financial health and strategic initiatives.
In a major development, Welspun Corp, through its wholly-owned subsidiary Sintex-BAPL Limited, has decided to acquire Weetek Plastics Pvt. Ltd. (WPPL).
The acquisition includes 100% of the equity shares and non-cumulative redeemable preference shares of WPPL, along with a subscription to certain Optionally Convertible Debentures (OCDs) issued by WPPL. This strategic move is aimed at accelerating Welspun Corp's entry into the rapidly growing plastic pipes market in India. WPPL, located in Raipur, Chhattisgarh, manufactures CPVC, UPVC, SWR pipes, fittings, and water storage tanks with a significant combined capacity.
