Foseco India Completes Sale of Subsidiary Shares for ₹11.99 Cr
Foseco India Limited has successfully completed the sale of 99,081 equity shares, representing 1.77% of Foseco Crucible (India) Limited (FCIL), in multiple tranches via the open market. The aggregate consideration for this sale was approximately INR 11,99,72,779. This transaction was undertaken to enable FCIL to meet minimum public shareholding requirements as mandated by SEBI regulations, including SAST Regulations, SCRR, and LODR Regulations. Following the sale, Foseco India's shareholding in FCIL has reduced to 75.00%, and FCIL has now achieved the required public shareholding norms. The company confirmed the completion within the stipulated timeline and its commitment to transparency and regulatory compliance.
Key Highlights
- Foseco India sold 1.77% stake in subsidiary FCIL for ₹11.99 Cr.
- Sale was to help FCIL meet minimum public shareholding requirements.
- Foseco India's stake in FCIL reduced to 75.00%.
- Transaction completed in multiple tranches via open market route.
- Ensures compliance with SEBI Listing Obligations and Disclosure Requirements.
Price Impact
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