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Home/Basics of Stock Market/Stocks/Market Insights/Welspun Corp Hits 52-Week High After ₹476 Crore Subsidiary Sale and Debt Reduction

Welspun Corp Hits 52-Week High After ₹476 Crore Subsidiary Sale and Debt Reduction

Created March 24, 2025
Author Bhumish Seth
Category Stocks, Market Insights
Reading Time: < 1 minutes

Market Performance

Welspun Corp's share price reached a 52-week high of ₹900 on March 24, 2025, following the announcement of the sale of a 74% stake in its wholly-owned subsidiary, Nauyaan Shipyard (NSPL). At 09:18 am, the share price was ₹898.20, reflecting a 2.12% increase on the BSE. Over the past nine months, the stock has surged by 74%.

Sale of Subsidiary Details

Welspun Corp completed the sale of a 74% equity stake in Nauyaan Shipyard (NSPL), generating ₹476.39 crore. This amount includes ₹382.73 crore for the equity stake and ₹93.66 crore towards dues. As a result, NSPL has ceased to be a subsidiary and is now classified as an associate of the company.

The company has used part of the proceeds to reduce its debt, prepaying ₹725 crore as part of a broader plan to reduce approximately ₹1,000 crore in debt by March 31, 2025.

Company Details

The company recently decided to voluntarily delist its equity shares from the Calcutta Stock Exchange (CSE) while remaining listed on the BSE and the National Stock Exchange (NSE).

As of March 24, 2025, the company's market capitalization stands at ₹23,564.22 crore.

Summary

Welspun Corp's share price hit a 52-week high of ₹900 following the sale of a 74% stake in its subsidiary Nauyaan Shipyard, generating ₹476.39 crore. The company is utilizing the proceeds to reduce its debt, with ₹725 crore already prepaid. This development has contributed to a 74% increase in the share price over the last nine months. Despite delisting from the Calcutta Stock Exchange, Welspun Corp remains listed on major national exchanges.

Tagged: Welspun Corp Limited

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