Morganite Crucible India Ltd — Important, 01-09-2025: Company Update

Foseco India Limited, part of the Vesuvius Group, has announced an open offer to acquire up to 25.00% of Morganite Crucible (India) Limited's shares from public shareholders. This follows Foseco's plan to acquire a 75.00% stake from the current promoters for INR 653.94 Cr, gaining control of Morganite Crucible. The open offer is for 14,00,000 shares at INR 1,557.15 per share, totaling up to INR 218.00 Cr, payable in cash. This move aims to expand Vesuvius Group's foundry business into the non-ferrous market in India. The independent directors will provide their view on the offer.