Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
Welspun acquires Rs.1,128-Cr worth debt of Sintex BAPL
Welspun Group company Welspun Corp Ltd has acquired INR 1,128 crore of debt of Sintex BAPL (SBAPL) - known for its plastic water tanks - for INR 386.9 crore. The debt, in the form of senior secured unlisted non-convertible debentures (NCDs), was acquired by the company's wholly-owned subsidiary Mahatva Plastic Products And Building Materials Pvt Ltd from existing Lenders of SBAPL. Welspun now owns around one-third of the total outstanding debt of the company. The company had also participated in the insolvency resolution process of Sintex group's textile business Sintex Industries.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.