Divestment12 May 2026, 08:31 pm
Foseco India to Sell 1.77% Stake in Subsidiary FCIL
AI Summary
Foseco India Ltd plans to sell up to 99,081 equity shares (1.77%) of its subsidiary, Foseco Crucible (India) Limited (FCIL), to meet minimum public shareholding requirements. The sale, approved on May 12, 2026, will occur in one or more tranches via SEBI-permitted methods, starting May 18, 2026, and concluding by March 31, 2027. The consideration expected is approximately ₹13,475 Lakh. FCIL contributed ₹3,940.20 Lakh (6.1%) to consolidated turnover and ₹14,091.74 Lakh (13.6%) to consolidated net worth in the last financial year.
Key Highlights
- Foseco India to sell up to 1.77% stake in Foseco Crucible (India) Limited (FCIL).
- Sale aims to meet minimum public shareholding norms in FCIL.
- Expected consideration from the sale is approximately ₹13,475 Lakh.
- FCIL contributed 6.1% to Foseco India's consolidated turnover.
- Sale to occur between May 18, 2026, and March 31, 2027.