Welspun Corp Limited
American Funds (Capital Group) bought 159,731 shares of Welspun Corp Limited in a block deal for ₹36.34 Cr at ₹2275.30 apiece. This transaction was part of a larger block deal where 6.13 million Welspun Corp shares changed hands, representing 2.39% of the company's equity.
One of the world's largest manufacturers of large diameter pipes, Welspun Corp produces steel billets, TMT rebars, ductile iron pipes, stainless steel pipes, tubes, and bars for diverse industrial applications. The company expanded into building materials through acquiring Sintex-BAPL, a market leader in water tanks and plastic products. It also made a strategic acquisition of specified assets from ABG Shipyard to strengthen its industrial presence.
India equity holdings of American Funds, the mutual fund family of Capital Group. Long-only, fundamentally driven strategy.