The sellers offered up to 11.51 lakh shares, representing 15.27% of Foseco India’s total equity, at a floor price of ₹5,773.63 per share, a discount of up to 5% to the prevailing market price.
At the floor price, the transaction is valued at up to ₹664.4 crore.
The transaction is a secondary share sale, with the shares being sold by existing shareholders Morganite Crucible and Morgan Terrassen B.V. The proceeds from the transaction will go to the selling shareholders and not Foseco India.
The shares were acquired by a mix of domestic mutual funds, insurance companies, foreign investors and family offices at the same price of ₹5,897 per share.
The key buyers included:
- SBI Mutual Fund: 3,22,297 shares
- Mirae Asset Mutual Fund: 2,91,793 shares
- Invesco Mutual Fund: 2,54,446 shares
- Catamaran Ventures LLP: 55,978 shares
- Mahindra Manulife Mutual Fund: 55,978 shares
- LIC Mutual Fund: 42,577 shares
- Motilal Oswal Mutual Fund: 42,577 shares
- Morgan Stanley Asia Singapore Pte: 42,577 shares
- Citigroup Global Markets Singapore Pte Ltd: 42,577 shares
At the transaction price of ₹5,897 per share, the total value of the block deals works out to approximately ₹678.7 crore.
Morganite, Morgan Terrassen holdings in Foseco India
According to Foseco India’s shareholding pattern as of June 2026, Morganite Crucible held a 7.84% stake, while Morgan Terrassen B.V. held 7.43%. Together, the two shareholders hold 15.27% of the company’s equity, equivalent to the entire stake on offer in the block deal.
The two entities are classified under the public shareholder category and are not part of Foseco India’s promoter group.
Foseco India’s promoter group holds a 63.54% stake, with Foseco Overseas holding 49.15%, Vesuvius Holdings 7.22% and Foseco (UK) 7.17%. Public shareholders collectively hold 36.46% of the company.
The sale by Morganite Crucible and Morgan Terrassen B.V. would therefore not change the promoter group’s holding in Foseco India.
Shares of Foseco India closed 7.68% higher at ₹6,047 on Wednesday. The stock has gained more than 23% so far in 2026, while delivering a negative 6% return over the last 12 months.
