Foseco India Limited has informed the Exchange regarding Outcome of Board Meeting held on May 12, 2026 - Sale of Equity Shares of Subsidiary Company
FOSECOIND · price
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Foseco India Limited's Board has approved selling up to 99,081 equity shares (1.77% stake) in its subsidiary Foseco Crucible (India) Limited (FCIL) through open market mechanism. The sale, expected to generate approximately INR 13,475 Lakh, will run from May 18, 2026 till March 31, 2027. FCIL contributes INR 3,940.20 Lakh (6.1% of consolidated turnover) and INR 14,091.74 Lakh (13.6% of consolidated net worth) to the company. The transaction is not a related party transaction and is being done to comply with minimum public shareholding requirements for FCIL under SEBI regulations.
This is a regulatory compliance sale of a small minority stake in the subsidiary to achieve minimum public shareholding. The impact on Foseco India's financials is marginal given the small percentage being sold. No significant impact expected on the stock price as this is routine compliance-related rather than a strategic transaction.