Foseco India Limited , a key player in the foundry industry, has announced a further extension of the Long Stop Date under its share purchase agreement. This development marks a significant update in the ongoing corporate action involving the company and its promoters.

Key Details of the Extension

Extension Process

The company and the MCIL Promoters (Morganite Crucible Limited and Morgan Terrassen B.V.) reached an understanding on the further extension after the close of normal trading hours on October 31, 2025. This understanding was formally recorded in writing on November 1, 2025.

Implications and Expectations

With this extension, the completion of the acquisition under the share purchase agreement is now expected to occur by November 14, 2025. This marks the second extension of the Long Stop Date, indicating ongoing developments in the acquisition process.

Regulatory Compliance

Foseco India Limited has duly informed the stock exchanges about this extension, adhering to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has emphasized that apart from the extension of the Long Stop Date, there are no other changes to the details of the Share Purchase Agreement previously submitted on August 22, 2025, and October 15, 2025.

This extension of the Long Stop Date suggests ongoing negotiations or processes related to the share purchase agreement. Shareholders and market participants will likely be watching closely for further updates as the new deadline approaches.

Foseco India Limited has announced an extension to the Long Stop Date for its share purchase agreement to acquire a 75% stake in Morganite Crucible (India) Limited (MCIL). The deadline has been pushed from October 15, 2025, to October 31, 2025, as mutually agreed upon by both parties.

Key Details of the Acquisition

Reasons and Implications

The extension of the Long Stop Date suggests that the parties involved require additional time to complete the necessary closing formalities. This development does not indicate any changes to the core terms of the agreement as previously disclosed on August 22, 2025.

Other Corporate Updates

In addition to the acquisition news, Foseco India Limited has made two other significant announcements:

1. Appointment of Senior Management: The company has appointed Mrs. Prachee Chirag Sonchal as the Director – Human Resources, effective November 3, 2025. Mrs. Sonchal brings over 21 years of experience in strategic HR initiatives across multiple sectors.

2. Increase in Trading Volume: Foseco India has acknowledged a significant increase in the trading volume of its securities across stock exchanges. The company has confirmed that it has made timely disclosures of all material events and price-sensitive information, and there are no pending announcements that could affect the stock's price or volume behavior.

These developments collectively paint a picture of a company in transition, with ongoing corporate actions and increased market interest. Investors and market watchers will likely keep a close eye on Foseco India as it moves towards completing its significant acquisition of Morganite Crucible (India) Limited.