Welspun Corp acquires Nauyaan Shipyard

23 Sep 2022 , 01:33 AM

Welspun Corp has acquired acquired entire share capital of Nauyaan Shipyard a company with objects inter alia of ship building shippers ship-owners repairers re-fitters fabricators etc from a related party promoter and promoter group of the Company at a fair value consideration of Rs 1 lakh only with an intention to make it a wholly owned subsidiary and a special purpose vehicle for investment in the field of Marine Fabrication Nauyaan presently does not have any material assets or liabilities