Apollo to invest $500 million in Welspun and its subsidiaries
Apollo Global Management is to invest up to INR2,250 crore ($502.9 million) in India-based pipe manufacturer Welspun Corp. (WCL). It is one of the largest private equity transactions in India this year and the largest that Apollo has made in the market to date.
According to Apollo, the firm will first invest INR1,305 crore ($291.7 million) in WCL - INR788 crores via a preferential allotment of fully and compulsorily convertible debentures and INR517 crore through...
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