Welspun Corp Ltd Sells 9.9% Stake in Nauyaan Shipyard Private Limited for Rs. 54.70 Crores

Welspun Corp Ltd has sold 9.9% equity shares of Nauyaan Shipyard Private Limited (NSPL) to Nauyaan Tradings Private Limited, a wholly-owned subsidiary of Reliance Strategic Business Ventures Limited, for a consideration of Rs. 54.70 Crores. The sale includes adjustments and is subject to any subsequent adjustments for expenses to the account of the Company and net current assets. After the sale, Welspun Corp Ltd will hold a balance of 6.1% equity stake in NSPL.