Welspun Corp has acquired additional non-convertible debentures (NCDs) having a face value of Rs 100,000 each with outstanding of Rs 39.97 crore for a purchase price of Rs 13.59 crore by its wholly-owned subsidiary viz. Mahatva Plastic Products And Building Materials (MPPBMPL) from existing lenders of Sintex BAPL (SBAPL). These NCD's have First & Pari-Passu charge on the movable fixed assets of SBAPL. The said acquisition of NCDs is not a related party transaction.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
