Welspun Corp sells remaining 6.1% stake in Nauyaan Shipyard
Consequently, the company is now not holding any shares in NSPL
Welspun Corp has sold the remaining 6.1% equity shares of Nauyaan Shipyard (NSPL) to Nauyaan Tradings (wholly-owned subsidiary of Reliance Strategic Business Ventures), at a consideration of Rs 45.32 crore including net current assets and adjustments, and subject to any subsequent adjustments for expenses to the account of the company. Consequently, the company is now not holding any shares in NSPL.
Welspun Corp is the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world.
