Welspun Corp establishes new subsidiary in India's Gift City

Welspun Corp Limited has announced the incorporation of its step-down wholly owned subsidiary, Welspun Global IFSC Limited (WGIFSC), in Gujarat International Finance Tec-City (Gift City) on December 10, 2025. This follows a previous disclosure on November 6, 2025. WGIFSC was incorporated through Welspun Mauritius Holdings Limited (WMHL), a wholly owned subsidiary of Welspun Corp.

The Ministry of Corporate Affairs, Government of India, has issued the Certificate of Incorporation for WGIFSC. The new entity has a minimum paid-up share capital of INR 2,00,00,000, divided into 20,00,000 equity shares of INR 10 each, fully held by WMHL and its nominees. WGIFSC is established to conduct global and regional corporate treasury centre activities within the International Financial Services Centre (IFSC) framework.

The incorporation of WGIFSC, a wholly owned subsidiary of WMHL, signifies Welspun Corp's strategic move into financial services and corporate treasury operations. As a newly incorporated company, WGIFSC currently has no turnover. This development is in compliance with Regulation 30 of the SEBI Listing Regulations, 2015.