Archive · 28 Aug 2026
Morgan Advanced Materials Exits Foseco India With Rs 678-Crore Sale
Morgan Advanced Materials owned part of a company called Foseco India.
On August 28, 2026, it sold all of that ownership.
The stake represented 15.26% of Foseco India.
The shares were sold for about Rs 678 crore.
Two Morgan affiliates handled the sale.
Several investment groups and other investors bought the shares.
These included mutual funds, Morgan Stanley, Citigroup Global Markets and Catamaran Ventures.
Foseco India works in the foundry sector, and its share price rose slightly after the transaction.
Morgan Advanced Materials sold its entire 15.26% stake in Foseco India for Rs 678.62 crore.
The stake comprised 11,50,800 shares sold through Morganite Crucible Ltd and Morgan Terrassen BV.
The shares were sold in open-market transactions at an average price of Rs 5,897 each.
Domestic and foreign institutional investors, including mutual funds and Catamaran Ventures, bought the shares.
Foseco India shares rose marginally to close at Rs 6,100 on the NSE on August 28, 2026.
- Who
- Morgan Advanced Materials sold its stake through Morganite Crucible Ltd and Morgan Terrassen BV; institutional investors and other investors bought the shares.
- What
- The company sold its entire 15.26% holding in Foseco India for Rs 678.62 crore.
- When
- Thursday, August 28, 2026.
- Where
- The shares were traded through open-market transactions on the National Stock Exchange in India; Foseco India is based in Pune.
- Why
- Morgan Advanced Materials exited its investment in Foseco India; the articles do not state why it sold.
- Seller
- Morgan Advanced Materials, through Morganite Crucible Ltd and Morgan Terrassen BV
- Company
- Foseco India
- Stake sold
- 15.26%, or 11,50,800 shares
- Deal value
- Rs 678.62 crore
- Average sale price
- Rs 5,897 per share
- Closing share price
- Rs 6,100 on the NSE
- Sector
- Foundry