The company raised ₹220 crore from the initial public offer (IPO) at an issue price of ₹140 per share.
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The sharp increase in the recent order pipeline was driven by various project wins, such as a 1 GWh BESS for state-owned SJVN Ltd., as well as customers orders.
The selection was based on an open tender process done by RailTel a "Miniratna", central PSU under Ministry of Railways.
These segments require heavy-duty pipes, such as 24-inch lines, which Welspun was previously unable to manufacture but will now be able to with the new capacity.
The partnership is built to meet customer demand to rationalize their agentic automation initiatives and achieve enterprise scale digital transformation
The acquisition is priced at $7.50 per share and will be completed in cash within 60 days, subject to regulatory approvals
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