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Welspun-Gujarat Stahl Rohren sets GDR programme

July 10, 2007

Pursuant to the resolution passed by the shareholders on 18 October 2005, Welspun-Gujarat Stahl Rohren issued FCCBs of aggregate amount of US$75 million.

In this connection, the company has set up GDR programme on 06 July 2007 with the listing approval from the Singapore Stock Exchange Securities Trading wherein the FCCB holders may opt for conversion of their bonds in to a number of GDR equal to the number of equity shares that would have been allotted had the bondholder opted for conversion in to equity shares.

The company made this announcement during trading hours today, 10 July 2007.

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