Vesuvius India Sells Mehsana Facility to Foseco India for ₹43.25 Cr

AI Summary

Vesuvius India Limited's Board of Directors has approved the sale of its Mehsana Facility, engaged in manufacturing crucibles, stoppers, and sleeves, to Foseco India Limited (FIL) for a lump-sum consideration of ₹43.25 crore. The transaction is structured as a slump sale and is expected to be completed by December 31, 2026. Both Vesuvius India and FIL are fellow subsidiaries under the ultimate holding company Vesuvius plc, UK, making this a related party transaction. The deal has been approved by the Audit Committee and is conducted on an arm's length basis, supported by an independent valuation report.

Key Highlights

Vesuvius India to sell Mehsana manufacturing facility to Foseco India.
Sale consideration is ₹43.25 crore via slump sale.
Transaction is a related party deal between fellow subsidiaries.
Deal approved by Audit Committee and based on independent valuation.
Expected completion by December 31, 2026.

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