Welspun Corp jumps on acquiring additional NCDs of Sintex BAPL
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Welspun Corp is currently trading at Rs. 198.40, up by 4.35 points or 2.24% from its previous closing of Rs. 194.05 on the BSE.
The scrip opened at Rs. 191.05 and has touched a high and low of Rs. 199.50 and Rs. 189.80 respectively. So far 119145 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 207.10 on 07-Apr-2022 and a 52 week low of Rs. 106.00 on 23-Aug-2021.
Last one week high and low of the scrip stood at Rs. 207.10 and Rs. 184.90 respectively. The current market cap of the company is Rs. 5158.97 crore.
The promoters holding in the company stood at 50.01%, while Institutions and Non-Institutions held 12.84% and 37.15% respectively.
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.
