The profile is currenly unclaimed by the seller. All information is provided by CB Insights.


Acquired | Acquired

About PariPassu

PariPassu is a company focused on the development of the food chain. It provides solutions that allow the food chain to improve controls, discipline, and results through easy-to-use and cost-effective software and training solutions.

PariPassu Headquarter Location

Rod. SC 401, 5500

Florianopolis, 88032-005,



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Latest PariPassu News

Welspun Corp acquires Rs1,128 cr Sintex BAPL debt

Apr 1, 2022

2 min read . Updated: 01 Apr 2022, 07:58 PM IST Swaraj Singh Dhanjal These NCDs have an exclusive pledge of over 100% equity shares of SBAPL along with First & PariPassu charge on the movable fixed assets of SBAPL, the statement said. Listen to this article Mumbai: Welspun group company Welspun Corp Ltd on Friday said that it has acquired Rs1,128 crore of debt of Sintex BAPL, known for its plastic water tanks, for a purchase price of Rs386.9 crore, the company said in a statement. The debt in the form of Senior Secured Unlisted Non-Convertible Debentures was acquired by the company's wholly-owned subsidiary Mahatva Plastic Products And Building Materials Pvt Ltd from existing Lenders of Sintex BAPL (SBAPL). "These NCDs have an exclusive pledge of over 100% equity shares of SBAPL along with First & PariPassu charge on the movable fixed assets of SBAPL," the statement said. "Welspun Corp Limited is desirous of working harmoniously with other lenders of Sintex BAPL Limited to resolve the insolvency situation of SBAPL at the earliest in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016," the statement said. With this acquisition Welspun now owns around one third of the total outstanding debt of the company, said a person aware of the development, speaking on the condition of anonymity. The move highlights Welspun group's interest in reorienting its business from current predominantly B2B models to more consumer facing businesses, the person added. The group is scouting for various investment and acquisition opportunities in relevant B2C areas, the person said. The acquisition of Sintex debt also reflects the group's increased appetite for M&A. The company had also participated in the insolvency resolution process of Sintex group's textile business Sintex Industries. In February, Welspun Corp MD and CEO Vipul Mathur had told Mint that the second largest manufacturer of large diameter pipes in the world and the flagship company of the $3 billion Welspun Group, is expanding the ambit of its businesses to make them more consumer-centric, said Vipul Mathur, the company’s managing director and chief executive officer. Sintex is a household brand with a pan-India presence in the B2C segment with a wide sales & distribution network including 847 distributors and 13,000 retailers. SBAPL has three major lines of business: Plastic Products – Water Tanks, Interiors & Institutional Products; Indian Custom molding - Automobile plastic molded parts; and BR Rototech – Fuel Tanks for Auto. Before getting into financial stress, SBAPL achieved a turnover of approximately ₹1,700 crore in FY19 with an EBITDA of approximately Rs270 crore (16.1% margin). Subscribe to Mint Newsletters

  • Where is PariPassu's headquarters?

    PariPassu's headquarters is located at Rod. SC 401, 5500, Florianopolis.

  • What is PariPassu's latest funding round?

    PariPassu's latest funding round is Acquired.

  • Who are the investors of PariPassu?

    Investors of PariPassu include Genesis Group.

  • Who are PariPassu's competitors?

    Competitors of PariPassu include Ecotrace and 1 more.

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