New Delhi, Aug. 25 -- Pipe manufacturer Welspun Corp.'s promoter entity and a top executive collectively plan to sell company shares worth up to Rs.1,418 crore ($149 million) through a block deal on Wednesday, just days after a record Rs.17,200 crore US order, according to a transaction term sheet reviewed by Mint.

Welspun Investments and Commercials Ltd, a member of the company's promoter group, and managing director and chief executive Vipul Mathur are offering up to 6 million and 300,000 equity shares, respectively. The total volume represents approximately 2.4% of the company's existing total outstanding equity capital. Prior to the share sale, Welspun Investments held 6.75 million shares, representing a 2.56% stake, while Mathur lik...