The transaction took place on the Tadawul Stock Exchange for a total consideration of SAR 979.9 million (₹2,450 crore). Following the transfer, EPIC, which is currently an associate of Welspun Mauritius Holdings Ltd, will become an associate of WPI.
This transaction, carried out on an arm’s length basis, does not change the ultimate ownership of Welspun Corp and is not anticipated to impact the company’s operations, financial health, or profitability.
Also Read: Welspun Corp completes acquisition of 4.11% stake in Welspun Specialty for ₹108.96 crore
EPIC is involved in manufacturing pipes, tubes, and hollow shapes from iron and steel. Established on July 4, 2010, it recorded total income of SAR 1,832.85 million for the financial year ending 2025, an increase from SAR 1,543.17 million in 2024 and SAR 1,438.65 million in 2023.
This move is part of an internal reorganisation within Welspun Corp’s subsidiaries. The transfer has been completed fully without the need for any government or regulatory approvals.
Last month, Vipul Mathur, Managing Director and Chief Executive Officer of Welspun Corp, indicated that the company is on track to exceed its annual earnings guidance, supported by strong execution and a solid order pipeline.
After posting nearly ₹1,800 crore in earnings before interest, taxes, depreciation, and amortisation (EBITDA) in the first nine months of 2025-26 (FY26), Mathur stated that the company is well-positioned to surpass its earlier full-year guidance of ₹2,200 crore, with approximately ₹2,500 crore looking increasingly attainable.
Also Read: Welspun Corp bags ₹1,600 crore orders since June 4; order book at ₹18,000 crore
Mathur did not specify a figure for 2026-27 (FY27) but emphasized the company’s internal goal of achieving 15% year-on-year EBITDA growth, driven by a “very, very strong order book in America, a very strong order book in India, and excellent business visibility.”
Regarding the government’s Jal Jeevan Mission (JJM), Mathur noted that spending had been low last year due to procedural challenges, despite existing allocations. He mentioned that the new budget allocation is a positive sign and that payment-related delays, which had caused engineering, procurement, and construction (EPC) companies to slow down execution, are now improving.
Shares of Welspun Corp Ltd closed at ₹800.85, up by ₹30.45, or 3.95%, on the BSE.
Also Read: Welspun Corp wins new export contract, consolidated global order book at ₹23,460 crore
