Walchandnagar Industries has received an approval to raise Rs 57 crore on private placement basis. The Allotment Committee constituted by the Board of Director of the Company vide Resolution passed by the Circulation on September 18, 2017 has approved the allotment of 5700 Secured, Unlisted, Redeemable, Non-Convertible Debentures having face value of Rs 1 Lakh, aggregating to Rs 57 crore.
Walchandnagar Industries is diversified as a high-tech heavy engineering company, manufacturing critical equipment for India's diverse requirements in the field of defence, nuclear power and space programmes, and also for core sectors like cement plant machinery, steam generation and power projects, sugar plant machinery, industrial and marine gearboxes.
