The Board of Welspun Corp Limited (BSE:532144) announced the spin-off of Welspun Infra Enterprises Ltd on May 30, 2013. The demerger appointed date is April 1, 2013 and expected demerger effective date is January 31, 2014. The shareholders of Welspun Corp will receive one equity share of Welspun Infra Enterprises for every 20 shares of Welspun Corp held. The transaction is subject to approval to statutory approvals and approval by Gujarat High Court. The transaction was approved by Board of Directors of Welspun Corp Limited approved the transaction on May 30, 2013. The transaction will have no impact on the composition of Welspun Corp's Board and leadership of the constituent businesses of Welspun Enterprises. As on July 13, 2013, Brijgopal Jaju will continue to look after non pipe business of Welspun Group and will act as Chief Financial Officer of the resulting company after the completion of the merger. As of October 22, 2013, shareholders and creditors of Welspun Corp unanimously approved the demerger. The meeting was conducted as per the directions of the Hon'ble High Court of Gujarat. Axis Capital Limited acted as financial advisor and Amarchand & Mangaldas & Suresh A Shroff & Co. acted as legal advisor for Welspun Corp Limited.

The Board of Welspun Corp Limited (BSE:532144) completed the spin-off of Welspun Infra Enterprises Ltd for approximately INR 1.1 billion on January 24, 2014. The transaction has been approved by the Court.