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Amazon Quiz: Which home textiles major has forayed into the mattress catgory under its home linen brand...?
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Amazon Quiz: (May 21) Which home textiles major has forayed into the mattress catgory under its home linen brand SPACES?
Amazon Quiz: (May 21) Which home textiles major has forayed into the mattress catgory under its home linen brand SPACES?
Vardhman Textiles
Raymond
Welspun India
Trident
Answer: Welspun India
Welspun India Limited is an Indian textile manufacturer headquartered in Mumbai, Maharashtra. It is Asia's largest and the world's second largest producer of terry towels. More than 94 percent of its home textiles are exported to more than 50 nations. It sells more than 68 percent of its output to the United States, 23 percent to Europe, and the remainder to the Middle East, Australia, and Mauritius. It provides 17 of the world's top 30 retail businesses.
It was established on 17 January 1985 in Mumbai as a Private Limited Company called Welspun Winilon Silk Mills Pvt. Ltd. It was founded to produce Polyester filament yarns (PFY) and texturised yarns (PTY). The name was changed from Welspun Polyester to Welspun India Ltd in 1995.
According to two persons familiar with the matter, Welspun Corp has taken over more than half of the debt of KKR-backed Sintex BAPL, setting the door for it to acquire the company that has been insolvent for over a year, reported the economic times.
Welspun NSE 1.77 percent is asking Rs 1,127 crore to acquire Sintex BAPL, a manufacturer of plastic automobile components. According to one of the sources, this would correspond to a 36 percent recovery for lenders on their outstanding principal of Rs 3,168 crore.
Welspun is attempting to buy at least 67 percent of the entire debt, which would give it control of Sintex BAPL's creditors committee. A resolution can only be approved if 66 percent of lenders by debt value agree on it.
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