We refer to our disclosure under Regulation 30 of the SEBI Listing Regulations, vide our letter dated 22 August 2025 notifying BSE Limited regarding the execution of the share purchase ....
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Foseco India Limited has completed the acquisition of 42,00,000 equity shares (75% of the paid-up share capital) from the existing promoters — Morganite Crucible Limited and Morgan Terrassen B.V. — on 12 November 2025. As a result, the promoters now hold zero equity shares and have ceased to be in control of the company. The acquisition triggered a mandatory open offer under SEBI Takeover Regulations. The company has applied for reclassification of the erstwhile promoters under Regulation 31A(10) of the SEBI Listing Regulations, effectively removing them from the promoter group.
This marks a complete change of control of the company to Foseco India Limited, which now holds 75%. For public shareholders, the promoter identity has changed and the stock may see changes in management, strategy, and corporate governance under the new parent. The mandatory open offer provides an exit opportunity to remaining public shareholders.