Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time ('SEBI Listing ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Foseco India Limited (part of the Vesuvius Group) acquired 4,200,000 equity shares, or 75% of the paid-up equity capital, of Morganite Crucible (India) Limited from the existing Morgan group promoters — Morganite Crucible Limited (2,156,000 shares) and Morgan Terrassen B.V. (2,044,000 shares) — through an off-market transaction on November 12, 2025. With this transfer, the company has become a subsidiary of Foseco India Limited, and the Morgan group promoters have ceased to be promoters of the company. The board appointed 7 new directors, including Mr. Prasad Chavare as Managing Director and Mr. Mohit Mangal as Executive Director, while three existing directors (Jonathan Percival, Chandrashekhar Chitale, and Poonam Bopshetti) resigned citing the change in ownership. The board also approved filing for a name change to 'Foseco Crucible (India) Limited' and will seek shareholder approval through a postal ballot for the new director appointments.
This is a significant change-of-control event that brings the company under Foseco/Vesuvius ownership and rebranding, which may lead to strategic, operational, and management realignment. Minority shareholders should note that with 75% now held by the new promoter, corporate decisions will be heavily influenced by the acquirer, though day-to-day business is expected to continue with the new leadership team in place.