20 hrs ago
Maithan Alloys Buys 0.17% Stake in HFCL for ₹60.09 Crore
Maithan Alloys bought a small part of HFCL by purchasing its shares.
It paid ₹60.09 crore for 25.27 lakh shares, equal to 0.17% of HFCL.
The purchase happened through the stock exchange and was paid for in cash.
Maithan Alloys said it made the purchase as an investment.
It also said it does not plan to control how HFCL is managed.
The company said the deal did not need government or regulatory approval.
HFCL works in telecommunications, defence equipment and digital networks.
HFCL reported turnover of ₹4,528 crore and profit after tax of ₹253 crore as of 31 March 2026.
Maithan Alloys acquired 25.27 lakh HFCL shares, representing a 0.17% stake, for ₹60.09 crore.
The stock-exchange transaction was paid for in cash and conducted at arm’s length.
Maithan Alloys said it sought investment benefits and does not intend to control HFCL’s management.
The filing said no regulatory approvals were required and the deal was not a related-party transaction.
HFCL reported turnover of ₹4,528 crore, profit after tax of ₹253 crore and net worth of ₹4,727 crore as of 31 March 2026.
- Who
- Maithan Alloys Ltd and HFCL Limited.
- What
- Maithan Alloys acquired 25.27 lakh HFCL shares, a 0.17% stake, for ₹60.09 crore.
- Where
- The transaction was executed through the stock exchange; the report is datelined Mumbai.
- When
- Announced on Monday; the article does not specify a calendar date.
- Why
- Maithan Alloys said it acquired the shares for long-term and short-term investment benefits, without intending to control HFCL.
Investment rationale
Management control
Purpose of the share purchase
Investment rationale
Maithan Alloys said the shares were acquired as an investment to seek long-term and short-term benefits.
Management control
Maithan Alloys said it does not intend to acquire direct or indirect control over HFCL’s management.
Key facts
- Stake acquired
- 0.17% of HFCL
- Shares acquired
- 25.27 lakh
- Transaction value
- ₹60.09 crore
- Consideration
- Cash
- Transaction terms
- Conducted through the stock exchange at arm’s length
- Approvals and related parties
- No governmental or regulatory approvals were required; no related-party transaction was involved
- HFCL financials as of 31 March 2026
- Turnover ₹4,528 crore; profit after tax ₹253 crore; net worth ₹4,727 crore
- HFCL previous annual turnover
- ₹3,795 crore in FY 2024–25 and ₹4,075 crore in FY 2023–24
Sources
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