*The Welspun Group* plans to raise $150-200 mn via structured finance, private equity placement or similar instruments.
The group is in discussion with PE firms to sell stake in one of its unlisted entities which will up a steel slabs plant and a captive power unit. The new facility and the supporting power plant are expected to cost around $800 mn, of which around $300 mn will be funded through equity and the balance will be debt. London-based I- Banking firm* Euromax Capital* is advising the company on the fund raising plan. Transaction Note The Welspun group is active in manufacturing of textile material and products, buttons, steel and arc welded pipes. It has four unlisted entities in the steel and pipes business. Welspun makes plates and coil and pipes through *Welspun Gujarat Stahl Rohren*- a listed entity. * Welspun Power & Steel*, an unlisted group entity, had announced last year that it would invest Rs 6,000 cr in a 1.5 mn tonne per annum plant in Raigad in Maharashtra and for capacity addition at an adjacent direct-reduced-iron plant. The group has been actively raising fund to fund expansion. In December, the shareholders of *Welspun India* approved fund raising of $75 mn through issue of securities. Prior to that Welspun Gujarat had raised $150 Mn through FCCBs and $100 Mn through QIP. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
