Foseco India Sells Minority Stake in FCIL to Meet Public Shareholding Norms
Foseco India Limited has completed the sale of equity shares of its subsidiary, Foseco Crucible (India) Limited (FCIL), which was formerly known as Morganite Crucible (India) Limited. The transaction, executed through an open market route, enabled FCIL to meet minimum public shareholding requirements.The company successfully sold 99,081 equity shares in FCIL, constituting 1.77% of the total paid up equity share capital of the subsidiary. This sale was conducted for an aggregate consideration of approximately INR 11,99,72,779. The transaction was completed within the timeline established in a previous intimation by the company.
The sale reduced Foseco India Limited's holding in FCIL. Following the open market disposition, the company’s shareholding now stands at 42,00,000 equity shares of FCIL. These shares represent 75.00% of the total paid up equity share capital of FCIL.
The completed transaction ensures that Foseco Crucible (India) Limited has achieved the minimum public shareholding required under regulations governing listed entities and securities contracts.
A summary of the shareholding status is provided below:
| Metric | Details |
|---|---|
| Shares Sold in FCIL | 99,081 equity shares |
| Percentage Sold (FCIL) | 1.77% |
| Total Consideration | INR 11,99,72,779 |
| Post-Sale Shareholding in FCIL | 42,00,000 equity shares |
| Post-Sale Percentage Holding | 75.00% |
FOSECOIND Stock Price Movement
Foseco India Limited shares today slipped by 1.13% to settle at ₹5199 after trading in the post-market session. The stock finished on a subdued note, with a total traded volume recorded at 3,635 shares.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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