Welspun Corp Limited - Preference Shares

8 Apr 2022 , 12:00 AM

Please note that pursuant to the Scheme of Arrangement between Welspun Steel Limited (the Demerged Company) and Welspun Corp Limited (the Resulting Company) and their respective shareholders (the Scheme) as sanctioned by the Honble National Company Law Tribunal, Ahmedabad Bench vide its order pronounced on March 16, 2022, the Company has allotted on April 8, 2022, 35,15,11,571 (Thirty Five Crore Fifteen Lakh Eleven Thousand Five Hundred Seventy One only) Cumulative Redeemable Preference Shares of the face value of Rs. 10/- each fully paid up ???(CRPS???) to the eligible shareholders of the Demerged Company, in the share exchange ratio of ???81 (Eighty One) 6% CRPS of the Resulting Company of Rs. 10 (Rupees Ten Only) each fully paid up, for every 100 (One Hundred) equity shares of the Demerged Company of the face value of Rs. 10/- (Rupees Ten Only) each fully paid up???, as provided in the Scheme. These CRPS shall carry a coupon of 6% p.a. and are redeemable, at face value, at the option of the holder upon the expiry of 18 months from the date of issue. These CRPS shall not to be listed on any stock exchange in India.