JM Financial Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of Morganite Crucible India Ltd ("Target Company").
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Foseco India Limited, along with persons acting in concert (Foseco Overseas, Vesuvius Holdings, and Foseco UK), has launched a mandatory open offer to buy up to 14,00,000 equity shares (25% of voting capital) of Morganite Crucible (India) Limited at Rs 1,557.15 per share, totaling up to Rs 218 crore in cash. This offer follows the underlying transaction completed on 12 November 2025, when Foseco India acquired management control of Morganite Crucible from its earlier promoters (Morgan Advanced Materials group). JM Financial is managing the offer, and shareholders can tender their shares between December 31, 2025 and January 13, 2026.
Public shareholders of Morganite Crucible (India) Limited now have a fixed-window opportunity to exit at Rs 1,557.15 per share in cash. Since the acquirer has already taken management control, this open offer is a regulatory follow-through, not a new acquisition. Shareholders should weigh the offer price against the stock's market price and consult their tax advisors before tendering.