Welspun India to cut debt by Rs 2,400 crore

Welspun India aims to cut its debt to about Rs 2,400 crore or lower by the end of the this fiscal. As per a report by the Hindu Busines Line, the company has already repaid Rs 582 crore this fiscal and reduced its debt by Rs 2,380 core. It has announced expansion plans in its textiles division which would required additional capex.

Welspun currently has an experimental outlet ― Spaces ― in Bandra (Mumbai), which will complement its virtual experienc. Buyers can virtually visit Spaces and can buy products. The company is working closely with MBOs for branding. It has tied up with 3,000 stores for Spaces and 2,000 for Welspun that are pushing ‘HarGhar, HarDukaanWelspun’. Welspun India is among the few textile companies that have weathered traditional challenges faced by the sector and emerged as one of the largest exporters of home textiles. It has recently ventured into the flooring business and has made its mark.