---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-036229"
form_type: "8-K"
ticker: "PPIH"
cik: "0000914122"
company_name: "Perma-Pipe International Holdings, Inc."
filed_at: "2026-11-10T22:12:53+00:00"
generated_at: "2026-11-10T22:14:04.003596+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Perma-Pipe buys 51% of new Welspun India coating JV for INR 51,000; Welspun Corp holds 49%

## Summary
- Perma-Pipe Qatar, a PPIH wholly owned subsidiary, agreed Nov 4, 2026 to buy 5,100 shares (51%) of Welspun Special Coating Private Limited for INR 51,000 cash; Welspun Corp pays INR 49,000 for 49%.
- Target WSCPL is newly formed to provide internal fusion-bonded epoxy (IFBE) coating for steel pipe in India, adding IFBE to Perma-Pipe's service offering and an export platform.
- Closing due within five days of the last required document (valuation certificates, authorizing resolutions); deal auto-terminates if not closed within 10 days of the Nov 4 execution date.
- Board to expand to five directors, with Perma-Pipe nominees Saleh Sagr and Paras Devidas Karani; Ketan Hasmukhlal Patel resigns; articles amended for a shareholders' agreement with Welspun.
- CEO Saleh Sagr said the JV expands Perma-Pipe's global coating capabilities and presence in strategically important markets such as India.

## SEC filing metadata
- accession: 0001437749-26-036229
- form_type: 8-K
- ticker: PPIH
- cik: 0000914122
- company_name: Perma-Pipe International Holdings, Inc.
- filed_at: 2026-11-10T22:12:53+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/914122/000143774926036229/0001437749-26-036229-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/914122/000143774926036229/ppih20261106c_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-036229
- JSON: https://secwatch.observer/filing/0001437749-26-036229.json
- Plain text: https://secwatch.observer/filing/0001437749-26-036229.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.