Welspun Corp has received approval to issue 2,500 Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 10 lakh each at par aggregating Rs 250 crore by way of private placement basis. The Board of directors of the company at its meeting held on January 23, 2018 has approved for the same.
Welspun Corp is currently in four businesses viz Line Pipes, Energy, Infrastructure & Steel and enjoys a global leadership position in the first two businesses. It may be recalled that Welspun Corp is already in advanced stages of demerging the parts of its business other than Line Pipes into Welspun Enterprises through a court process.
