Welspun-Gujarat SR bags Rs 1,089cr deals

Welspun-Gujarat Stahl Rohren has bagged orders worth Rs 1,089 crore ($250 million). The projects are to be executed for both LSAW and HSAW pipes. The orders take the company's pending order book position to approximately Rs 4,000 crore including the orders executed in the last quarter of FY07.

Meanwhile, the board of directors, at its meeting held on April 14, 2007, has decided to raise $50 million (equivalent to Rs 215 crore) by issue of convertible/non-convertible securities/warrants to the constituents of the promoter group with a condition that the aggregate amount of convertible securities and subscription to equity shares to be issued against options attached to warrants shall not exceed $35 million (equivalent to Rs 150.50 crore).