WELCORP.NSE

Welspun Corp Ltd.

In this briefing: Citius TransNet Investment Trust Pre-IPO Tearsheet IGI IPO Lockup - US$900m Release with PE on 4x+ Gains Company Update: Coforge Ltd - 9 Th December, 2025 Axis Punch: Welspun Corp - 9 Th December, 2025 Indraprastha Gas: INR Depreciation Not a Worry Yet. Maintain BUY 1. Citius TransNet Investment Trust Pre-IPO Tearsheet Citius TransNet Investment Trust (CTIT IN) is looking to raise about US$148m in its upcoming India IPO. The deal will be run by Axis, Ambit and ICICI. CTIT is a transport sector-focused infrastructure investment trust (InVIT) with an objective to acquire, manage and invest in a portfolio of transport infrastructure assets, including roads, in India. The InVIT’s initial asset portfolio will comprise a total of 3,406.71 lane-kilometers across nine different Indian states as of the date of this DRHP (Dec 3, 2025). 2. IGI IPO Lockup - US$900m Release with PE on 4x+ Gains IGI (India) Limited (IGIL IN) (IGII) raised around US$500m in its India IPO in December 2024.

In this briefing: IGI IPO Lockup - US$900m Release with PE on 4x+ Gains Company Update: Coforge Ltd - 9 Th December, 2025 Axis Punch: Welspun Corp - 9 Th December, 2025 Indraprastha Gas: INR Depreciation Not a Worry Yet. Maintain BUY Information Technology: Growth revival: Cloud to AI led services 1. IGI IPO Lockup - US$900m Release with PE on 4x+ Gains IGI (India) Limited (IGIL IN) (IGII) raised around US$500m in its India IPO in December 2024. The lockup on its PE shareholders is set to expire soon. IGI India is part of the International Gemmological Institute (IGI) group. As of 22nd August 2024, IGI India handled operations of the IGI business in India and Türkiye. In this note, we will talk about the lockup dynamics and possible placement. 2. Company Update: Coforge Ltd - 9 Th December, 2025 Coforge’s management hosted an investor and analyst meet where the CEO & Executive Director, Mr Sudhir Singh, and his management team presented business progress and medium to long-term priorities.

In this briefing: Hybridan Small Cap Feast: 2 December 2025 Company Update: Coforge Ltd - 9 Th December, 2025 ZIM Takes Center Stage As Hapag-Lloyd Explores A Strategic Acquisition! DraftKings Inc.: An Insight Into Regulatory Developments Axis Punch: Welspun Corp - 9 Th December, 2025 1. Hybridan Small Cap Feast: 2 December 2025 The European fintech fund announces its unaudited Half Year Results for the six months ended 30 September. The Company currently trades at an approximately 45% discount to the NAV per share after the performance fee of 159.5p. Cash reserves with no debt was £22.4m, down from £29.3m on 31 March 2025. 2. Company Update: Coforge Ltd - 9 Th December, 2025 Coforge’s management hosted an investor and analyst meet where the CEO & Executive Director, Mr Sudhir Singh, and his management team presented business progress and medium to long-term priorities. The company highlighted its competitive positioning, strategic focus area, operational improvements, and market presence.

In this briefing: Company Update: Coforge Ltd - 9 Th December, 2025 Axis Punch: Welspun Corp - 9 Th December, 2025 CardinalStone Research - Model Equity Portfolio - 08 December 2025 SSI [BUY +20.7%] - Strong ADTV Outlook; Aggressive Margin Lending Activities STB [OUTPERFORM +13.1%] - Short-Term Restructuring Pain; Major One-Off Gain in 2027F 1. Company Update: Coforge Ltd - 9 Th December, 2025 Coforge’s management hosted an investor and analyst meet where the CEO & Executive Director, Mr Sudhir Singh, and his management team presented business progress and medium to long-term priorities. The company highlighted its competitive positioning, strategic focus area, operational improvements, and market presence. The event’s central theme focused on partnerships, core AI integration through its platforms, emerging revenue verticals, and an increasing footprint in untapped regions. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only.