The acquisition includes 100% of the equity shares and non-cumulative redeemable preference shares of WPPL, along with a subscription to certain Optionally Convertible Debentures (OCDs) issued by WPPL. The enterprise is valued at INR 85 crores, the company said.

Oct 21, 2024

Welspun Corp Limited has decided to acquire Weetek Plastics Private Limited, a micro enterprise engaged in the manufacture of plastics products.

The acquisition includes 100% of the equity shares and non-cumulative redeemable preference shares of WPPL, along with a subscription to certain Optionally Convertible Debentures (OCDs) issued by WPPL.

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The enterprise is valued at INR 85 crores, the company said. This strategic move is aimed at accelerating Welspun Corp entry into the rapidly growing plastic pipes market in India.  With this acquisition, Weetek will become a wholly owned subsidiary of Welspun Corp, further expanding its footprint in India’s plastics manufacturing sector.