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Promoters, CEO sell Rs.1433-Cr stake in pipes manufacturer Welspun Corp
Welspun Investments and Commercials and Vipul Mathur, the MD & CEO of Mumbai-based Welspun Corp , have sold shares of the company worth a combined INR 1,433.4 Cr in a block deal executed on the NSE. The transaction involved the sale of 6.3 million shares at INR 2,275.3 per share.The buyers in the transaction included Euro Pacific Growth Fund, New World Fund, Capital Group Europacific Growth Trust (USA), Edelweiss Mutual Fund, and Quant Mutual Fund.
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Between Oct 2007 and Jun 2011, Welspun Corp had attracted about $372-M from Apollo Management and 3i.For FY25, Welspun Corp had reported about INR 8,835 Cr in Operating Income and about INR 842 Cr in PAT.