Announced Mon, 22 Jun · 17:17 IST
Foseco India sells 1.77% stake in subsidiary FCIL for about INR 12 cr
Strategic Transactions View source PDF
FOSECOIND · price
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Price reaction · full curve 14 horizons · vs prior close
+1.5%1-day move
₹5184.70
prior close
₹5172.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+1.3+1.0+0.5+0.5+1.5-0.3+2.5+3.0+2.7-0.1-1.1-3.1——
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AI summary
Foseco India has completed the sale of 99,081 equity shares (1.77 percent) of its subsidiary Foseco Crucible (India) Limited through the open market in multiple tranches for an aggregate consideration of about INR 12 crore. The sale was carried out to help FCIL meet the minimum public shareholding requirement under SEBI SAST, SCRR, and LODR regulations. Post-sale, Foseco India's holding in FCIL stands at 75 percent, and FCIL has now achieved the required minimum public shareholding norm.
Likely market impact
Routine regulatory action. Foseco India retains 75 percent control in FCIL. No material impact on consolidated business.