Foseco India Limited has informed the Exchange about Memorandum of Understanding/Agreements - Further extension of Long Stop Date under the Share Purchase Agreement to November 14, 2025
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Foseco India has informed the exchanges that the Long Stop Date under its Share Purchase Agreement with the promoters of Morganite Crucible (Morgan Advanced Materials Plc, Morganite Crucible Limited, and Morgan Terrassen B.V.) has been extended for a second time, now to November 14, 2025 (previously October 31, 2025, and originally October 15, 2025). The agreement was first signed on August 22, 2025. The company says completion of the acquisition is now expected by November 14, 2025, and there are no other changes to the deal terms disclosed earlier. The mutual decision to extend was reached after market close on October 31 and formally recorded on November 1.
This is a routine procedural extension to allow more time for closing formalities (likely pending regulatory or condition-precedent approvals), not a sign the deal is in trouble. For shareholders, the second delay means slightly longer uncertainty, but the deal itself is still moving forward on broadly the same terms.