JM Financial Ltd ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement in terms of Regulations 3(1) and 4 read with Regulations 13(4), 14 (3) and 15(2) of the ....
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Foseco India Limited, along with persons acting in concert (Foseco Overseas Limited, Vesuvius Holdings Limited, and Foseco (UK) Limited), has announced an open offer to acquire up to 14,00,000 equity shares (25% of the voting share capital) of Morganite Crucible (India) Limited from public shareholders. The offer price is INR 1,557.15 per equity share of face value INR 5, with total consideration of up to approximately INR 218 crore (assuming full acceptance), payable in cash. The offer is being made under Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The Detailed Public Statement dated 29 August 2025 was published on 1 September 2025 in Financial Express, Jansatta, Navshakti, and Marathwada Kesari. The Manager to the Offer is JM Financial Limited.
Public shareholders of Morganite Crucible India can now consider tendering their shares at INR 1,557.15 per share under this open offer, which typically provides a floor price above market for a limited window. The move signals a consolidation within the Foseco/Vesuvius group and may reduce public float in Morganite Crucible India going forward.