In a notable corporate action, the promoters of Morganite Crucible (India) Limited have engaged in a substantial share transaction with Foseco India Limited. The deal involves the sale of a significant number of equity shares by the promoters through off-market transactions.

Transaction Details

The transaction involves two key promoter entities of Morganite Crucible (India) Limited:

This off-market transaction represents a strategic move by the promoters, potentially altering the ownership structure of Morganite Crucible (India) Limited.

Regulatory Compliance

In adherence to the Securities and Exchange Board of India (SEBI) regulations, specifically the SEBI (Prohibition of Insider Trading) Regulations, 2015, both promoter entities have submitted the required disclosures to the company. These disclosures were promptly filed with the Bombay Stock Exchange by Morganite Crucible (India) Limited's Company Secretary and Compliance Officer, Ms. Pooja Jindal.

Impact and Implications

While the exact motivations behind this share exchange remain undisclosed, such transactions often signal strategic realignments or collaborative efforts between companies in related industries. The involvement of Foseco India Limited, which is acquiring shares in exchange, suggests a potential strengthening of ties or strategic partnership between the two entities.

Investors and market watchers may be keen to observe any subsequent changes in the companies' operations, market positions, or strategic directions following this significant share movement.

Conclusion

As this substantial share transaction unfolds, stakeholders of both Morganite Crucible (India) Limited and Foseco India Limited may closely monitor for any announcements or changes that might shed light on the strategic implications of this move. The market's response to this development in the coming days could provide further insights into its perceived impact on both companies' future prospects.

Morganite Crucible (India) Limited , a key player in the crucible manufacturing sector, has announced a postal ballot process to seek shareholder approval for significant board appointments and a company name change following its recent acquisition by Foseco India Limited.

Postal Ballot Schedule and Process

The company has issued a formal postal ballot notice under Regulation 44, with remote e-voting scheduled from December 30, 2025 (9:00 AM) to January 28, 2026 (5:00 PM). The cut-off date for eligible voting members is December 26, 2025, and results will be announced by January 30, 2026.

Ownership Transfer Background

The postal ballot follows the completion of a 75% stake transfer to Foseco India Limited on November 12, 2025. The transaction involved the transfer of 4.2 million equity shares from original promoters Morganite Crucible Limited and Morgan Terrassen B.V., transforming Morganite Crucible into a subsidiary of Foseco India.

Board Appointments for Shareholder Approval

The postal ballot seeks approval for seven key director appointments, all effective from November 12, 2025:

Non-Executive Directors:

• Manuel Antonio Delfino Aguilera (DIN: 11218693) - Non-Executive, Non-Independent Director
• Mark Collis (DIN: 10054384) - Non-Executive, Non-Independent Director
• Henry Knowles (DIN: 08751453) - Non-Executive, Non-Independent Director

Independent Directors (5-year terms):

• Amitabha Mukhopadhyay (DIN: 01806781) - Non-Executive Independent Director
• Rashmi Joshi (DIN: 06641898) - Non-Executive Independent Director

Executive Directors (5-year terms):

• Prasad Chavare (DIN: 08846863) - Managing Director
• Mohit Mangal (DIN: 03049572) - Whole-time Director

Special Resolutions

The postal ballot includes two special resolutions: continuation of Mr. Ulhas Narayanrao Gaoli as Non-Executive Independent Director (who will turn 75 in August 2026) and the proposed name change from "Morganite Crucible (India) Limited" to "Foseco Crucible (India) Limited."

Remuneration Structure

Notably, both executive directors (Prasad Chavare and Mohit Mangal) will receive their full remuneration from Foseco India Limited rather than from Morganite Crucible, reflecting the integrated operational structure post-acquisition.

Voting Process

Shareholders can vote through multiple channels including NSDL and CDSL platforms, with detailed instructions provided for both individual and institutional investors. The company has engaged MUFG Intime India Private Limited as the registrar and share transfer agent for the e-voting facility.

The postal ballot represents a crucial step in formalizing the governance structure following Foseco India's acquisition, ensuring regulatory compliance while transitioning to the new ownership structure.