Maithan Alloys buys another 7.80 lakh HFCL shares for ₹20 crore
- Mergers & acquisitions
Maithan Alloys Limited has told the exchanges that it bought 7,80,000 equity shares of HFCL Limited through the stock exchange on 13 Oct 2026, at a total cost of ₹20.00 crore in cash. The filing was made on 14 Oct 2026 under Regulation 30 of the SEBI listing rules, because the purchase crossed the threshold that requires disclosure.
The company says the event occurred at 3:30 PM on 13 Oct 2026 and that it became aware of the detailed particulars at 9:14 AM on 14 Oct 2026. 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 of HFCL’s management.
The filing describes HFCL as a technology enterprise in high-end telecom and defence equipment, optical fibre and cables and passive connectivity solutions, and gives its turnover as ₹4,528 crore, its profit after tax as ₹253 crore and its net worth as ₹4,727 crore as of 31 Mar 2026. The acquisition is not a related party transaction and is stated to be at arm’s length.
Inference
This is a separate purchase from the one the company reported for 12 Oct 2026, when it bought 7,65,000 HFCL shares for about ₹20.14 crore. Together the two purchases come to about ₹40 crore.
The company says the holding is an investment and gives no intention to seek control. Whether it will buy more is not stated in the filing.
Reference: Original filing (PDF)
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