Foseco India has signed a share purchase agreement with its promoters to acquire 42 lakh shares, representing 75% of the total voting share capital of Morganite Crucible (India) Ltd. (MCIL) on a fully diluted basis.The acquisition is valued at ₹1,557 per share, translating into a total consideration of ₹653.94 crore.
Incorporated on January 13, 1986, MCIL is engaged in designing, manufacturing, marketing, and selling crucibles and other foundry consumables used in various metal melting and handling applications.
According to audited financial statements, MCIL reported revenues of:- ₹182.15 crore in FY25
– ₹174.03 crore in FY24
– ₹159.42 crore in FY23
Meanwhile, shares of Foseco India Ltd. were trading 6.09% higher at ₹5,953 on Friday, extending their strong rally of over 70% in the past six months.
