Welspun Corp Limited acquires Nauyaan Shipyard Pvt Ltd

Welspun Corp Limited has acquired entire share capital of Nauyaan Shipyard Private Limited (“Nauyaan”), a company with objects, of ship building, shippers, ship-owners, repairers, re-fitters, fabricators etc., from a related party (promoter and promoter group of the Company), at a fair value consideration of Rs. 100,000/- (Rupees One Lakh only) with an intention to make it a wholly owned subsidiary and a special purpose vehicle for investment in the field of Marine Fabrication.

Nauyaan presently does not have any material assets or liabilities.

Source : Equity Bulls

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WelspunCorp Acquisition NauyaanShipyard