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Welspun Corp Ltd Announces Conversion Of Compulsorily Convertible Debenture Into Equity Shares


Monday, 18 Feb 2013 07:31am EST 

Welspun Corp Ltd announced that pursuant to Investment Agreement dated June 29, 2011 entered into between the Company and Insight Solutions Limited, the Company had allotted One Unsecured Compulsorily Convertible Debenture of INR7.88 billion (INR7,883,750,025) each on August 18, 2011 (CCD) to Granele Limited. As the term of 18 months from the date of allotment of CCD has expired, the Company has on February 18, 2013 made allotment of 35,038,889 equity shares against the compulsory conversion of the said CCD. 

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