Welspun Corp has acquired entire share capital of Nauyaan Shipyard (Nauyaan), a company with objects, inter alia, 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 1 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.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
