Maithan Alloys Limited

Nature of the Disclosure

This is a regulatory disclosure submitted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and SEBI Master Circular No. HO / 49 /"14/"14(7)2025-CFD-POD2/I/ 3762/ 2026 (updated 30th January 2026). The filing was triggered by the breaching of a threshold limit prescribed under the regulations.

Key Event Details

  • Event Type: Acquisition of equity shares of a listed entity (HFCL Limited) through the stock exchange.
  • Date of Occurrence: The acquisition transaction occurred on 1st October 2026 at 3:30 PM.
  • Awareness Date: The company became aware of the detailed particulars of the acquisition on 5th October 2026 at 10:52 AM.
  • Disclosure Date: This formal disclosure was made on 5th October 2026.

Acquisition Particulars

  • Target Entity: HFCL Limited
  • Number of Shares Acquired: 2,527,000 equity shares
  • Percentage of Shareholding Acquired: 0.17%
  • Total Cost of Acquisition: ₹60.09 Crore
  • Date of Acquisition: 1st October 2026
  • Mode of Acquisition: Acquired through the stock exchange
  • Nature of Consideration: Cash Consideration
  • Completion Status: The acquisition has been completed.

Financials of Target Entity (HFCL Limited) as of 31.03.2026

  • Turnover: ₹4528 Crore
  • PAT: ₹253 Crore
  • Networth: ₹4727 Crore
  • Historical Turnover:
  • FY 2025-2026: ₹4528 Crore
  • FY 2024-2025: ₹3795 Crore
  • FY 2023-2024: ₹4075 Crore

Transaction Rationale and Impact

  • Purpose: The shares form part of the investment portfolio of Maithan Alloys Limited with a view to reap long-term/short-term investment benefits.
  • Intent: Maithan Alloys Limited does not intend to acquire control, whether directly or indirectly, of the management of HFCL Limited.
  • Impact: Disclosed as an investment activity. The financial impact is the outflow of ₹60.09 Crore for the purchase.

Background on HFCL Limited

  • Line of Business: HFCL is a leading technology enterprise with operations in high-end Telecom and Defence Equipment, Optical Fiber, Optical Fiber Cables, Passive Connectivity Solutions (through its subsidiary, IITL Limited), and creating digital networks for telcos, enterprises, and governments. It also provides Engineering, Procurement, and Construction Services.
  • Industry: Telecom - Infrastructure
  • Date of Incorporation: 11th May 1987
  • Geographic Presence: India

Regulatory and Governance Aspects

  • Related Party Transaction: No
  • Promoter/Promoter Group Interest: No
  • Arm's Length Basis: Yes, the transaction was done at arm's length.
  • Governmental/Regulatory Approvals Required: None were required for this acquisition.
  • Source of Information: The information relating to HFCL was obtained from its website, its Annual Report for FY 25-26, and the BSE website.