Shares of Foseco India saw a flurry of bulk deal activity on August 27, with several mutual funds and institutional investors buying shares even as Morgan Terrassen B V and Morganite Crucible were on the sell side. All the reported transactions took place at ₹5,897 per share.
Among the buyers, SBI Mutual Fund picked up 3,22,297 shares, while Mirae Asset Mutual Fund bought 2,91,793 shares. Invesco Mutual Fund also bought 2,54,446 shares. LIC Mutual Fund, Mahindra Manulife Mutual Fund and Motilal Oswal Mutual Fund each bought shares, while Citigroup Global Markets Singapore and Morgan Stanley Asia Singapore also featured among the buyers.
On the other side, Morgan Terrassen B V sold 5,60,056 shares, while Morganite Crucible sold 5,90,744 shares. CNBC-TV18 had earlier reported that the two shareholders were looking to sell the stake for up to ₹664.4 crore through a block deal. 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, according to the report.
At the floor price, the transaction is valued at up to ₹664.4 crore, it added. 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 sharesMorganite, Morgan Terrassen holdings in Foseco IndiaAccording 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 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.