Welspun Gujarat raises $150 million

Welspun-Gujarat Stahl Rohren, the flagship of Welspun Group, has raised $150 million (nearly Rs 720.2 crore) by way of foreign currency convertible bonds (FCCBs) issue.
The company will utilize the money to invest for capital expenditure, investments in growth opportunities and other usage in accordance with applicable statutory and/or regulatory requirements.

The company has priced FCCBs at $130 million with an option to raise an additional amount to the tune of $20 million if the issue is fully subscribed.

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