The latest update is out from Welspun Corp Limited ( (IN:WELCORP) ).
Welspun Corp Limited has announced the completion of a strategic investment transaction involving its wholly-owned subsidiary, Nauyaan Shipyard Private Limited (NSPL). The company has received Rs. 476.39 Crores from the transaction, resulting in NSPL becoming an associate rather than a subsidiary. This move allows Welspun to focus on reducing its debt, with plans to pre-pay a total of Rs. 1,000 crores by the end of March 2025, thereby strengthening its financial position and reducing finance costs.
More about Welspun Corp Limited
Welspun Corp Limited operates in the manufacturing industry, primarily focusing on the production of large diameter pipes for the oil and gas sector. It is a key player in the global market, providing infrastructure solutions for energy transportation.
YTD Price Performance: -0.05%
Average Trading Volume: 33,417
Current Market Cap: 212.2B INR
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