Welspun Corp Ltd enters into agreement for liquidation of part of assets at Dahej Shipyard

Welspun Corp Limited has entered in to an agreement on March 6, 2023 with a reputed steel trader (the "Buyer") for liquidation of a part of specified assets lying at Dahej Shipyard of the Company for an consideration of approx Rs. 360+ Crore. This part of the specified assets would be lifted and liquidated within a period of ~9 months.

This part of the specified assets is being sold on an "as is, where is, with all faults", "as is what is", "whatever there is", "no recourse" basis. The Buyer has paid 10% of the consideration as an interest free security deposit.

Shares of Welspun Corp Limited was last trading in BSE at Rs. 204.50 as compared to the previous close of Rs. 199.05. The total number of shares traded during the day was 26672 in over 599 trades.

The stock hit an intraday high of Rs. 205.10 and intraday low of 198.90. The net turnover during the day was Rs. 5379275.00.

Source : Equity Bulls

Keywords

WelspunCorp INE191B01025 AssetSale Liquidation DahejShipyard ABGShipyard