Foseco Crucible Achieves Minimum Public Shareholding After Promoter Sells Equity Shares in Open Market
Foseco Crucible (India) Ltd, formerly known as Morganite Crucible (India) Limited, has successfully completed the sale of equity shares by its promoter, Foseco India Limited, to meet minimum public shareholding requirements. The open market transaction resulted in a reduction of the promoter group's holding and confirmed the company's compliance with applicable shareholding regulations.The promoter sold 99,081 Equity Shares of the Company through multiple tranches via the open market route. This sale accounted for 1.77% of the total paid up Equity Share capital of Foseco Crucible (India) Ltd.
Following the completed open market transaction, the aggregate shareholding held by the promoter and the promoter group has been reduced to 42,00,000 Equity Shares. This holding constitutes 75.00% of the total paid up Equity Share capital of Foseco Crucible (India) Ltd, enabling the company to satisfy the minimum public shareholding requirements prescribed under regulations.
The transaction confirms the completion of the planned equity sale by Foseco India Limited and maintains transparency regarding the Company's ownership structure.
Stock Price Movement
Foseco Crucible (India) Ltd shares settled at ₹1319.70 on Monday, achieving a 10.00% increase in after-hours trading. The stock traded through the day, moving within an intraday range defined by a low of ₹1215.00 and a high touching ₹1319.70.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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