Private equity firm Apollo Global Management will invest Rs 2,250 crore in Welspun group companies.
Touted to be its biggest investment in India, funds affiliated with Apollo will invest Rs 1,305 crore in Welspun Corp Ltd, a global pipe manufacturer, of which Rs 788 crore will be invested through preferential allotment of fully/compulsorily convertible debentures (FCD/GCD) and Rs 517 crore through non-voting global depository receipts (GDR).
The deal comes at a time when global private equity funds are taking advantage
of the rapid growth in Asia's third largest economy, chasing investment opportunities in subdued stock mar-ket conditions. “