3i India exits 6.6% stake in steel pipe maker Welspun Corp.
UK private equity firm 3i Group has exited its 6.6% stake in Indian steel pipe producer Welspun Corp. Ltd. for an undisclosed amount, coming three years after it first invested INR350 crore ($76.8 million) in the company.
Fifteen-year-old Welspun manufactures steel pipes, yarns and coils for infrastructure, energy and oil and gas businesses. According to local reports, 3i sold its stake because of the limited growth potential...
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