Welspun Corp arm acquires further NCDs in Sintex BAPL Ltd

Welspun Corp
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Welspun Corp Limited had earlier announced the acquisition of Sintex BAPL Ltd.’s (“SBAPL”) Senior Secured Unlisted Non-Convertible Debentures with outstanding of Rs. 1,168.77 Crore for a purchase price of Rs. 400.49 Crore by our wholly-owned subsidiary viz. Mahatva Plastic Products And Building Materials Private Limited (“MPPBMPL”).

Further to the above, the company has announced the acquisition of additional non-convertible debentures (the “NCDs”) with outstanding of Rs.7.84 Crore for a purchase price of Rs.2.67 Crore by its wholly-owned subsidiary viz. MPPBMPL from existing lenders of SBAPL.

These NCD’s have First & Pari-Passu charge on the movable fixed assets of SBAPL. The above acquisition of NCDs is not a related party transaction.

The Company may consider acquiring additional tranches of NCDs from time to time, and it would, in future, announce if such acquisition of NCDs exceeds 2% (equivalent to ~Rs. 63 Crore) in aggregate of the total outstanding debt of SBAPL.