Welspun India Ltd board approves fund raising of $100 mn

The Board of Directors of Welspun India Ltd at its meeting held on March 03, 2021 have approved raising of borrowing of upto a maximum of USD 100 MN (approximately Rs. 750 Cr) in one or more form or instruments, including but not limited to loans, ESG Bonds, nonconvertible debentures ("NCDs"), ECBs, etc., may be raised in form of domestic or overseas issuance or both, or any combination of loans, ESG Bonds, NCDs, ECBs, etc., in one or more tranches.

The Board also authorised approaching the shareholders seeking requisite approvals to be obtained by way of a general meeting.

Shares of WELSPUN INDIA LTD. was last trading in BSE at Rs.70.55 as compared to the previous close of Rs. 68.05. The total number of shares traded during the day was 204023 in over 1398 trades.

The stock hit an intraday high of Rs. 71.7 and intraday low of 68. The net turnover during the day was Rs. 14353134.

Source : Equity Bulls

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