Widely read:
Welspun Enterprises Ltd has informed BSE that under the Scheme of Arrangement approved by the High Court of Gujarat in January 2014 leading to the Demerger of Welspun Corp Limited to Welspun Enterprise Limited, the Company had issued equity shares representing 8.76% of its share capital to JP Morgan Chase Bank, NA, which is the depository bank on behalf of the GDR holders of Welspun Corp Limited. Subsequently the Company had completed the issuance of the GDRs to GDR holders.
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