Foseco India Limited has successfully concluded its acquisition of a majority stake in Morganite Crucible (India) Limited, marking a significant corporate move in the industrial materials sector.

Acquisition Details

The transaction, which was announced on August 22, 2025, has now been finalized. Here are the key points of the acquisition:

Impact and Implications

As a result of this acquisition, Morganite Crucible (India) Limited has become a subsidiary of Foseco India Limited. This strategic move may strengthen Foseco India's position in the market and potentially expand its product offerings or manufacturing capabilities.

Regulatory Compliance

Foseco India Limited has informed the BSE Limited and National Stock Exchange of India Limited about the completion of this acquisition, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company's Managing Director and CEO, Prasad Madhukar Chavare, signed off on the regulatory filing, confirming the transaction's completion.

This acquisition represents a significant development in the industrial materials sector, potentially reshaping market dynamics and competitive landscapes.

Foseco India Limited , a key player in the foundry industry, has completed a significant preferential share allotment to two Morgan Group entities. The company allotted 11,50,800 equity shares on November 12, 2025, following Board approval on November 11, 2025, marking a strategic development in its capital structure.

Share Allotment Details

The preferential allotment was distributed between two Morgan Group entities:

The allotment significantly altered Foseco India's equity structure:

Regulatory Compliance Framework

The transaction followed comprehensive regulatory procedures. Shareholder approval was secured through special resolution at an extraordinary general meeting on September 21, 2025. In-principle approvals were obtained from the National Stock Exchange of India on November 3, 2025, and BSE Limited on November 4, 2025.

Morganite Crucible Limited filed substantial acquisition disclosure under Regulation 29(1) of SEBI Takeover Regulations on December 18, 2025. The disclosure was submitted to both NSE and BSE, with Esther Bruin signing on behalf of Morgan Terrassen BV, while identifying Morganite Crucible Limited as a Person Acting in Concert.

Transaction Structure and Features

The shares are subject to lock-in and transferability restrictions under Chapter V of SEBI Issue of Capital and Disclosure Requirements Regulations, 2018. The non-cash consideration indicates a strategic transaction rather than a capital-raising exercise.

Strategic Implications

This preferential allotment strengthens the relationship between Foseco India Limited and the Morgan Group entities. The coordinated acquisition by Morgan Terrassen BV and Morganite Crucible Limited, acting in concert, represents a substantial 18.02% increase in the company's equity base. While the immediate financial impact remains limited due to the non-cash nature, the transaction could influence the company's governance structure and strategic direction.