Foseco India Limited has informed the Exchange regarding a press release dated August 22, 2025, titled "Press Release".
FOSECOIND · price
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Foseco India Limited (FIL), part of the Vesuvius Group, has signed a definitive agreement to acquire a 75% stake in Morganite Crucible India Limited (MCIL) from its current promoters, Morganite Crucible Limited and Morgan Terrassen B.V. (Morgan Group). MCIL holds the Molten Metals Systems (MMS) business in India, which makes high-tech crucibles for non-ferrous metal applications. The deal is entirely paper-based: FIL will issue 1,150,800 fresh equity shares at a swap ratio of 274 FIL shares for every 1000 MCIL shares. The acquisition will trigger a mandatory open offer by FIL for up to 25% of MCIL's public shareholding under SEBI Takeover Regulations. Completion is expected by early October 2025, subject to regulatory and shareholder approvals. The move is part of a larger global acquisition by Vesuvius Group of Morgan's worldwide MMS business and aims to expand into the faster-growing non-ferrous foundry segment and strengthen presence in India, with substantial cost synergies expected.
For Foseco India shareholders, this is a meaningful strategic expansion into the non-ferrous crucible business with potential cost synergies, but the all-stock deal will dilute existing shareholders and integration risks remain. The mandatory open offer for MCIL public shareholders could also create short-term trading opportunities for MCIL retail investors.