Morganite Crucible and Morgan Terrassen BV are likely to sell their entire 15.27% stake in Foseco India through a block deal worth around Rs 664 crore, sources told NDTV Profit.
The block deal is likely to take place at Rs 5,773.63 per share, representing a discount of around 5% to Foseco India's previous closing price. Investec is the broker to the deal.
Morganite Crucible held a 7.84% stake in Foseco India as of the quarter ended June, while Morgan Terrassen BV held a 7.43% stake. Together, the two shareholders own 15.27% of the company.
The proposed transaction comes after the two entities had received shares in Foseco India as part of the company's acquisition of a 75% stake in Morganite Crucible (India). Foseco India had agreed to issue 11,50,800 new equity shares, representing 15.27% of its share capital, to the sellers as consideration for the acquisition.
The stake sale follows Foseco India's acquisition of a 75% stake in Morganite Crucible (India), which was agreed in 2025. The transaction was structured through a share swap, with Foseco India issuing fresh shares to Morganite Crucible and Morgan Terrassen BV.
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The acquisition was aimed at expanding Foseco India's exposure to the foundry business, particularly the non-ferrous segment, through Morganite Crucible's Molten Metal Systems business.
The proposed block deal would allow the two former shareholders to monetise their holding in Foseco India following the share-swap transaction.
Foseco India Share Price Today
Foseco India shares closed 8.23% higher at Rs 6,077.50 per share on Wednesday. The stock has gained 10.61% over the past one week and 19.79% in the last one month. On a year-to-date basis, Foseco India shares are up 23.46%, while the stock has declined 6.80% over the past one year.
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