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Welspun India Ltd. Company History and Annual Growth Details

1985 - Welspun (I) Limited was incorporated on 17th January, as a
Private Limited Company in the name and style of Welspun Winilon
Silk Mills Pvt. Ltd. at Mumbai. The Main Object of the Company
is to manufacture Polyester filament yarns and texturised yarns.
The Company was promoted by G.R.G. group headed by G.R. Goenka.

1986 - It has established yarn texturising unit at Palghar, District
Thane with one texturising machine of 216 spindles for producing
797.5 MT yarns per annum.

1989 - In March, another texturising unit of the same capacity was set
up at Silvassa.

1990 - A modern polyester filament flat yarn manufacturing unit was set
up at Achhad, District Thane, with a capacity of 605 MT per

1991 - The capacity of company increased from 2,200 MT to 3,500 MT per

- 18,00,000 shares issued (prem. Rs 5 per share) out of which
90,000 shares reserved and allotted to employees on 17,10,000
shares offered to the public in October, 1991. Additional
2,70,000 shares were allotted to retain oversubscription
(2,56,500 shares to the public and 13,500 shares to the

1993 - The Company undertook to set up a cotton spinning project with
15,000 spindles at Village Morai, near Vapi, Gujarat for
manufacture of terry towels.

- The company also proposed to set up a POY project with a capacity
of 15,000 MTPA at Silvassa, Dadra, Nagar Haveli.

- The Company issued equity shares of Rs 10 each at a premium of Rs
40 per share as follows:

- (i) 49,05,000 shares to shareholders on rights basis in the ratio
of 3:2;

- (ii) 5,20,000 shares to Mutual Funds and Banks (only 2,24,999
shares were taken up) and

- (iii) 2,60,000 shares to the employees (only 1099 shares were
taken up);

- (iv) 10,00,000 shares to promoters (all were taken up);

- (v) 34,20,000 shares to Indian public and NRI through prospectus
(45,60,706 and 1,46,119 shares allotted to public and NRI

1994 - The company expanded the terry towel production capacity from
3100 MTPA to 5200 MTPA. The Company has already commissioned
power generating sets for 4.10 MW. Moreover, it was setting up
power generating sets to generate 40 MW of power for capitive
consumption by terry towel and cotton spinning units.

- The company was setting speciality polyester filament yarn
project with a capacity of 14500 MTPA p.a. alongwith 5 nos. of
texturising machines with an installed capacity of 4000 MTPA at
Silvassa. For this project, the company acquired
state-of-the-art plant from Rieter automatic GMBH, Germany.

- In order to part finance the aforesaid expansion and
diversification, the company proposed to issue equity shares of
Rs 10 each for cash at a premium of Rs 50 per share.

- 101,05,000 shares issued on rights cum public issue.

1995 - 21,584 spindles and 240 rotors were added to the cotton spinning

- The name of the Company was changed from 'Welspun Polyesters
(India) Ltd.' to 'Welspun India Ltd.' w.e.f. 12th October.

- 7,50,000 Pref. shares issued during the year.

1996 - The polyester yarn division of the company at Silvassa was leased
to M/s. Welspun Syntex Ltd. to concentrate on natural fibre and
related business.

- The Company decided to add 36 electronic Jacquard looms
considering demand for superior quality towels like Jacquard.

- The Company proposed to establish a 100% EOU for manufacturing
terry towels for exports at Vapi, Gujarat as a measure of

- The Company entered into a joint venture agreement with Vincenzo
Zucchi SPA, Italy for the manufacture of Terry Bathrobes and
Terry made-ups at its 100% EOU plant in Vapi Gujarat.

2000 - The Company has informed that, a wholly-owned subsidiary in the name of
Welspun USA Inc. has been incorporated in the USA.

- The Company demerger for hiving off of the company's cotton yarn unit into a
separate company and compromise with the lenders of the company.

2001 - Demerger of the spinning division of the company into a separate company viz.
Welspun Cotton Yarn Ltd.

- Credit Rating and Information Services of India Ltd. has downgraded its rating in
respect of the company's NCDs from 'B' to 'D'.


-Welspun India bags International vendor of the year award from WAL-MART

-Welspun India wins operational excellence award for 2003

-Welspun India appoints Angshuman Singh as CEO


- Delists equity shares of the Company from The Stock Exchange Ahmedabad (ASE) with effect from January 28, 2005.


-Welspun India Ltd has appointed Ms Revathy Ashok as an Additional Director of the Company.


- Welspun India Ltd has appointed Mr. Ram Gopal Sharma as an additional director of the Company with effect from August 25, 2008.