Promoters of Morganite Crucible India Ltd to Sell 75% Stake to Foseco India Limited for INR 653,94 Crores

The promoters of Morganite Crucible India Ltd, Morganite Crucible Limited and Morgan Terrassen B.V., have entered into a share purchase agreement with Foseco India Limited and its promoters. The promoters have agreed to sell 75% of the paid-up equity share capital of the Company for an aggregate consideration of INR 653,94 Crores. The acquisition will be made by issuing and allotting preferential allotment of 1,150,800 equity shares of INR 10/- each in the Acquirer at a price of INR 5,674 per Consideration Share. Upon completion of the Transaction, the Acquirer would hold 75% of the paid-up equity share capital of the Company and Morganite Crucible India Ltd would become a subsidiary of Foseco India Limited.