EPIC IPO: Welspun Corp Saudi JV to commence subscription process from today

24 Jan 2022 , 09:30 AM

Welspun Corp Limited has now been informed by East Pipes Integrated Company for Industry (EPIC), about the successful completion of the book-building process for the Participating Parties, Institutional Investor’s tranche, and the setting of the final offer price at SAR (80) per share with an oversubscription coverage of (71.8x) of the total offer shares.

The Individual Investors tranche subscription process will commence on January 24, 2022, and ends on Tuesday, January 25, 2022. A maximum (630,000) Offer Shares, representing 10% of the total Offer Shares, will be allocated to Individual Investors.

Bidding and book-building period for participating entities for proposed Listing of EPIC (Formerly Welspun Middle East Pipes LLC) established in the Kingdom of Saudi Arabia at the local Stock Exchange took place from January 11, 2022 to January 17, 2022.

At around 9.34 am, Welspun Corp Ltd was trading at Rs172.85 per piece down Rs4.75 or 2.67% from its previous closing of Rs177.60 per piece on the BSE.