Acquisitions22 Aug 2025, 12:35 pm
Foseco India Ltd to Acquire 75.00% Stake in Morganite Crucible (India) Limited for INR 653,94,00,000
AI Summary
Foseco India Ltd has entered into a share purchase agreement with promoters of Morganite Crucible (India) Limited to acquire 75.00% of its equity share capital for INR 653,94,00,000. The acquisition will be made by issuing 11,50,800 fully paid-up equity shares of the company to the promoters at a price of INR 5,674 per share. The transaction is subject to approval from shareholders, regulatory authorities, and stock exchanges.
Key Highlights
- Foseco India Ltd to acquire 75.00% stake in Morganite Crucible (India) Limited
- Total consideration of INR 653,94,00,000 for the acquisition
- Payment to be made by issuing 11,50,800 fully paid-up equity shares of Foseco India Ltd
- Subject to approval from shareholders, regulatory authorities, and stock exchanges
- Acquisition aligns with Foseco's strategic ambitions to expand into the non-ferrous market segment and the Indian market