Welspun Corp Limited acquires additional NCDs of Sintex BAPL Ltd

Welspun Corp Limited gas announced the acquisition of additional non-convertible debentures having a face value of Rs. 100,000 each (the "NCDs") with outstanding of Rs. 39.97 Crore for a purchase price of Rs. 13.59 Crore by our wholly-owned subsidiary viz. Mahatva Plastic Products And Building Materials Private Limited (MPPBMPL) from existing lenders of Sintex BAPL Ltd (SBAPL). These NCD's have First & Pari-Passu charge on the movable fixed assets of SBAPL. The above acquisition of NCDs is not a related party transaction.

Shares of Welspun Corp Limited was last trading in BSE at Rs. 194.05 as compared to the previous close of Rs. 196.05. The total number of shares traded during the day was 103390 in over 2262 trades.

The stock hit an intraday high of Rs. 197.45 and intraday low of 192.35. The net turnover during the day was Rs. 20144723.00.

Source : Equity Bulls

Keywords

WelspunCorp INE191B01025 Subsidiary Acquisition NCDs SintexBAPL