Morgan Advanced Materials has sold its entire shareholding in Foseco India through open market transactions worth around Rs 678.63 crore. Morgan Advanced Materials, through its two affiliates - Morgan Terrassen B V and Morganite Crucible, has offloaded around 11.51 lakh shares, representing 15.26% of the total shareholding, of the company. The shares were sold at an average price of Rs 5,897 apiece.
Meanwhile, Citigroup Global Markets Singapore PTE, Invesco Mutual Fund, LIC Mutual Fund, Mahindra Manulife Mutual Fund, MIRAE Asset Mutual Fund, Morgan Stanley Asia Singapore PTE, Catamaran Ventures LLP, SBI Mutual Fund and Motilal Oswal Mutual Fund have bought an equal number of shares at the same price.
Foseco India is primarily engaged in manufacturing of foundry chemicals and fluxes.
