Welspun Specialty Solutions Ltd

Welspun Specialty Solutions Limited (Formerly known as RMG Alloy Steel Limited) was incorporated on December 29, 1980. The Company was promoted by V C Saraf and R C Saraf along with the Remi Group and the Doshi Group of Kenya, together with the Gujarat Industrial Investment Corporation (GIDC) and Essar Gujarat. The name change from RMG Alloy Steel Limited to Welspun Specialty Solutions Limited took place in August, 2019. The Company is a multi-product manufacturer of Alloy Steel, Billet, Bloom, Ingot, Rolled Bar, Bright Bar and Seamless Pipes & Tubes. The company came out with a Rs 38-cr public issue in Feb.'94, to part-finance its proposed project, at a project cost of Rs 220 cr. Seamless pipes with total backward integration of the steel-making facility and rolling mill commenced trial production and commenced its commercial production in Oct'97. Later on, the Steel Plant and Rolling Mill commenced normal operations from January, 2004. However, the Pipe Plant operations normalized in July 2004. The Company was declared sick by BIFR and IDBI was appointed as Operating Agency. In the year 2005, pursuant to the Order of the Board for Industrial & Financial Reconstruction (BIFR) dated 18th October 2002, the Company allotted 3,67,75,000 Equity Shares of Rs 6/- each fully paid on preferential basis to some of the promoters of the Company against the Share Application Money Received. The Company supplied critical boiler tubes to Indian Navy in 2022, followed by the supply of first lot for project in aerospace/defence missile sector. It supplied U tubes of SS 317L material to a leading Heat Exchanger manufacturer. In 2024, many high value grades have been developed and delivered like 904L, S30432, Alloy 800/H, Alloy 625, Low Cobalt Steel for Nuclear Power, Hollow Bars, Welsonic 50 etc. The Company launched stainless steel boiler tubes AS-9100D project for super-critical power plants in collaboration with BHEL in FY 2025. It launched Welsonic-60 (UNS S21800), a new high-value grade, further enhancing the specialty product range. It secured a high-value order for Alloy K500 (Nickel-Copper grade) from a German customer, which is currently under execution.