Welspun India to raise Rs 500 crore via non-convertible debentures

Welspun India on Wednesday said it plans to raise Rs 500 crore by issuing non-convertible debentures (NCDs) or commercial papers on a private placement basis.

Its board in its meeting on Wednesday "approved raising of funds, by way of the private placement, up to Rs 500 crore, inter alia, by issuing NCDs or commercial papers, subject to the approval of the shareholders," said Welspun India.

Welspun India is part of Welspun Group, a conglomerate that has business interests in sectors including line pipes, home textile products, infrastructure, warehousing, steel, oil and gas, advanced textiles and flooring solutions.