With reference to its earlier announcement dated October 28, 2021, wherein the company had mentioned its intent to explore polymer business and accordingly had amended the Objects Clause in the Memorandum of Association of the Company. Welspun Corp has informed the acquisition of Sintex BAPL (SBAPL) Senior Secured Unlisted Non-Convertible Debentures having a face value of Rs 100,000 each (the 'NCD') with an outstanding of Rs 1128.8 Crore for a purchase price of Rs 386.9 Crore by its wholly-owned subsidiary- Mahatva Plastic Products And Building Materials ('MPPBMPL') from existing Lenders of SBAPL. These NCDs have an exclusive pledge of over 100% equity shares of SBAPL along with First & Pari-Passu charge on the movable fixed assets of SBAPL. The above acquisition of NCD is not a related party transaction.
The above information is a part of company’s filings submitted to BSE.
