Welspun Corp Limited
Edelweiss Mutual Fund bought 373,577 shares of Welspun Corp Limited for ₹85.00 Cr at ₹2275.30 apiece in a block deal. This transaction occurred amidst a larger block deal where Welspun Corp's promoter group and CEO sold 6.3 million shares (2.4% of outstanding shares) at a floor price of ₹2,250 per share.
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.
AMC subsidiary of Edelweiss Financial Services. Manages over Rs 1.5 lakh crore across equity, debt, hybrid and alternative strategies. CEO Radhika Gupta is the most prominent woman leader in Indian asset management and has built a strong direct investor franchise through social media and investor education. Known for multi-asset and international fund-of-fund offerings.