Welspun Corp shares drop 6% after CEO, promoter group likely sell stake worth Rs 1,433 crore via block deal
Welspun Corp shares fell sharply on Wednesday after 63 lakh shares worth Rs 1,433 crore changed hands in a block deal. Promoter group entity Welspun Investments and Commercials and CEO Vipul Mathur were likely sellers. The transaction represented about 2.4% of the company’s outstanding shares and came after a sharp rally.
Shares of Welspun Corp experienced a significant drop of over 6% on Wednesday following a block deal in which a promoter group entity and the company's managing director and CEO likely sold shares worth Rs 1,433 crore. The deal took place at Rs 2,275.30 per share, which was around a 3% discount to the previous closing price of Rs 2,345.50 on the NSE.
Welspun Investments and Commercials, a part of the promoter group, was set to sell up to 60 lakh shares, while CEO Vipul Mathur was expected to sell up to 3 lakh shares. According to the deal terms, the stake changed hands represented about 2.4% of Welspun Corp's existing outstanding shares. This transaction was a secondary sale, meaning the company would not receive any proceeds from the sale.
The block deal occurred after a sharp surge in Welspun Corp shares, which have increased by over 40% in just one month, making them one of the top performers in the industrial and pipe manufacturing sector. The stock has been performing well, with a 13% gain in a week and a 180% increase in 2026 so far. Promoter or management stake sales are closely monitored by the market, as they can influence near-term sentiment.
Welspun Corp shares have delivered impressive returns, with a 156% gain over one year, 604% in three years, and an incredible 1,805% in five years.
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