Welspun acquires 54% of Sintex BAPL debt
Welspun is offering Rs 1,127 crore to acquire Sintex BAPL, a manufacturer of plastic components for the automotive industry. This would equate to a recovery of about 36% for lenders on their outstanding principal of Rs 3,168 crore. Welspun is seeking to acquire at least 67% of the total debt, which will give it controlling rights at Sintex BAPLs committee of creditors.