Maithan Alloys buys 7.65 lakh HFCL shares for about ₹20 crore as an investment
- Mergers & acquisitions
- Steel And Steel Products
Maithan Alloys Limited has told the exchanges that it bought 7,65,000 equity shares of HFCL Limited through the stock exchange on 12 Oct 2026, for a total of ₹20.14 crore in cash. The filing says the purchase crossed the threshold that requires disclosure under Regulation 30, and that the company became aware of the detailed particulars on 13 Oct 2026 at 10:03 AM.
The shares are about 0.05% of HFCL's equity. Maithan says they form part of its investments, made to earn long-term or short-term investment benefits, and that it does not intend to acquire control, directly or indirectly, over HFCL's management.
HFCL is described as a technology enterprise in telecom and defence equipment, optical fibre and cables and connectivity solutions. Citing HFCL's annual report and website, the filing gives its turnover as ₹4,528 crore for FY2025-26. The transaction is not a related party transaction and was at arm's length.
Inference
For Maithan's shareholders, this is a financial investment in another listed company, not a change to its steel alloys business. At ₹20.14 crore, the filing does not say what share it is of the company's investments or cash.
Because the investment is in listed shares, its value will move with HFCL's share price and Maithan will account for it accordingly. The filing does not say whether Maithan plans to add to the holding. Investors may want to look at the company's later results for how its investment holdings are reported.
Reference: Original filing (PDF)
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