The Exchange has received the revised disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Morgan Terrassen B.V.
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Morgan Terrassen B.V. (a Netherlands-based entity belonging to the Morgan Advanced Materials group) along with its Person Acting in Concert, Morganite Crucible Limited, has filed a revised disclosure under Regulation 29(1) of the SEBI Takeover Code. They acquired 11,50,800 equity shares of Foseco India Limited (7.43% by Morgan Terrassen B.V. and 7.84% by Morganite Crucible Limited, totaling 15.27%) through a preferential allotment on November 12, 2025. Prior to this acquisition, the acquirer and PAC held zero shares in the company. As a result of this preferential issue, Foseco India's equity capital increased from ₹6.39 crore (63.86 lakh shares) to ₹7.54 crore (75.37 lakh shares). The filing is a revised version submitted in response to queries raised by BSE Limited.
The parent group (Morgan Advanced Materials) has significantly increased its stake in its Indian subsidiary to 15.27%, signalling a stronger commitment to the Indian operations. For shareholders, this represents a long-term strategic investment by the global parent, though it also means some dilution for existing public shareholders due to the preferential issuance.