Intimation under Regulation 30 for Aquisition

Creeping Acquisition Near ThresholdOwnership Changes View source PDF

GRAPHITE · price

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₹730.80

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AI summary

Graphite India Ltd has acquired shares of GrafTech International Ltd (a NYSE-listed company) through secondary market transactions under the Overseas Portfolio Investment (OPI) scheme. The current acquisition cost INR 62.25 Crores, bringing the company's total investment in Graftech to INR 230.38 Crores. The stake has been increased from 6.82% to 9.79%. GrafTech is a manufacturer of graphite electrodes with a market cap of USD 241.98 million. The company stated the acquisition is for investment purposes.

Likely market impact

The stake increase to 9.79% brings Graphite India close to the 10% threshold, which may trigger additional regulatory requirements. This strategic investment aligns with Graphite India's core business of graphite electrode manufacturing.