In an interview to CNBC-TV18, Vipul Mathur, MD & CEO of Welspun Corp spoke about the latest happenings in the company and gave his outlook for the future.
Welspun Corp bagged an order worth 200,000 MTs pipes offshore project on the back of which the company‘s orderbook went up to Rs 6500 crore from Rs 4500 crore.
The company has merged Welspun Enterprises, Welspun Infratech, Welspun Plastics, Welspun Infra Projects and Welspun Projects on the recommnetdation of its audit committee.
Akhil Jindal, Director of Welspun Group denies the ban to raise money from the capital market. The net debt is currently at Rs 2,500 crore against their networth of Rs 5,000 crore. They aim to bring it down to below Rs 1,000 crore in 3 years which is at .23 of debt equity levels and that is quite comfortable.
Welspun Group will be recieving capital infusion of USD 500 million from PE Apollo Global Management to expand its presence in the global oil and gas pipe market.