Foseco India to Acquire 75 Per Cent Stake in Morganite Crucible

26 Aug 2025 CW Team

Foseco India Limited (FIL), part of the Vesuvius Group of companies, has signed a definitive agreement to acquire a 75 per cent stake in Morganite Crucible (India) Limited (MCIL) from its current promoters, Morganite Crucible Limited and Morgan Terrassen B.V. of the Morgan Group. The move will expand FIL’s exposure to the foundry business in India, particularly in non-ferrous applications.

MCIL is the holding company for the Molten Metals Systems (MMS) business in India, a specialist in high-tech crucibles. FIL will acquire the stake by issuing and allotting 1,150,800 fresh equity shares through a swap ratio of 274 FIL shares for every 1,000 MCIL shares.

The deal will also trigger a mandatory open offer by FIL to acquire up to 25 per cent of MCIL’s shareholding from public shareholders, in line with SEBI’s takeover regulations. The acquisition remains subject to customary approvals from regulators, FIL shareholders, and fulfilment of pre-completion covenants, and is expected to close by October 2025.

The transaction aligns with the wider acquisition of the global MMS business by the Vesuvius Group from the Morgan Group. The acquisition will strengthen the Group’s presence in the fast-growing non-ferrous segment in India, while enhancing synergies across its global foundry operations.

Ravi Kirpalani, Chairman of Foseco India, said: “This transaction will strengthen our business through offering the high-tech solutions that MMS brings. The expanded business will benefit from being part of the Group’s global foundry operations, leveraging combined R&D capability and enhanced customer reach.”

The acquisition is expected to deliver substantial cost synergies, creating long-term value for the Vesuvius Group while expanding its foothold in the Indian foundry sector.

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

G R Infraprojects Secures Rs 4,130 Million BESS Contract From NTPC

G R Infraprojects said it has secured a contract from NTPC to supply and implement a battery energy storage system (BESS) valued at Rs 4,130 million (mn). The company reported the order was awarded as part of NTPC's ongoing efforts to enhance grid flexibility and energy storage capacity. The contract represents a notable addition to the firm's project pipeline and underscores demand for utility scale storage solutions. The award is expected to strengthen G R Infraprojects' presence in the energy infrastructure sector and to contribute to the firm's order book and future revenues, subject to st..