We would like to inform you that the Company has received disclosure for dispose of securities by promoters under Reg 7(2)(a) Securities and Exchange Board of India (Prohibition of Insider ....
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On the reaction day the stock moved 1.3 pts less than Nifty Microcap 250 and 1.5 pts less than its Electrodes & Refractories peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Two promoter entities — Morganite Crucible Limited and Morgan Terrassen B.V. — have completely exited the company by selling their entire combined holding of 42,00,000 shares (75% stake) on November 12, 2025. Morganite Crucible sold 21,56,000 shares (38.50%) and Morgan Terrassen sold 20,44,000 shares (36.50%), both via off-market transactions. Instead of cash, the promoters were issued 5,90,744 and 5,60,056 shares respectively of Foseco India Limited, the acquirer. Post-disposal, both promoter entities hold zero shares in the company. The transaction, disclosed under SEBI Insider Trading Regulations, signals a complete change in promoter identity tied to Foseco India Limited.
This is a full promoter exit — existing shareholders should note that the promoters have completely sold out and been replaced by Foseco India Limited as the new controlling shareholder, which may lead to changes in strategy, dividends, and board composition.