Morganite Crucible India Ltd — Important, 01-01-1970: Company Update

Foseco India Limited and its associated entities have launched an open offer to acquire up to 14 lakh equity shares, representing 25% of Morganite Crucible (India) Limited's voting capital. The offer price is INR 1,557.15 per share, totaling up to INR 218.00 crore, assuming full acceptance. This follows Foseco India's recent acquisition of a 75% stake and management control of Morganite Crucible. The move aligns with Foseco India's strategy to expand its foundry business into the faster-growing non-ferrous market segment and into India. Morganite Crucible's board has been reconstituted, and there is no plan to delist the company.