Leading pipe manufacturer Welspun Corp on Saturday said it has raised Rs 200 crore by issuing non-convertible debentures.

The money was raised by the flagship firm of Welspun Group through placement of secured Redeemable Non—Convertible Debentures (NCDs) to investors including banks and financial institutions, the firm said in a filing to the BSE.

The debentures attract an interest of 11.25 per cent and have tenure of 7 years, which can also be redeemed after 5 years with a put/call option.

Welspun Corp produces different types of steel pipes at three domestic and two overseas locations—— US and Saudi Arabia —— and has a 2.2 million tonnes per annum production (MTPA) capacity. It also has a plate mill of 1.5 MTPA capacity.

In 2011—12, the company had reported a consolidated net profit of Rs 238.54 crore and net sales of Rs 8,976.58 crore.

(This article was published on August 25, 2012)
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