India’s Welspun board approves up to Rs. 2 billion debenture issue

By Sarah Lizee

Olympia, Wash., May 26 – Welspun Enterprises Ltd. informed the Bombay Stock Exchange that its board of directors met on Tuesday and approved a proposal to issue up to Rs. 2 billion of secured redeemable nonconvertible debentures on a private placement basis.

In total, the board has approved issuance of up to Rs. 3.75 billion, after excluding Rs. 250 million from the Rs. 2 billion approved by the company on May 6.

Mumbai-based Welspun Enterprises is an operating company in the infrastructure business. The company also has investments in oil and gas exploration.

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