India-based Welspun Corp has announced that it has decided to focus on pipe and plate business in India and globally, with all the other units to be demerged into a separate holding company called Welspun Enterprises Ltd.
According to Welspun, the demerger will not cause dilution of stakes of any Welspun Corp. shareholder.
The demerger plans requires the approval of Gujarat High Court and the demerger is expected to be effective as of January 31, 2014.