Maithan Alloys Acquires 0.07% Stake In HFCL For ₹29.72 Crore

Mumbai: Maithan Alloys Limited announced on Friday its acquisition of a 0.07 per cent shareholding in HFCL Limited for a total consideration of ₹29.72 crore. The transaction, completed on 8 October 2026, involved the purchase of 11.25 lakh equity shares.

Purpose Of Acquisition

The company stated that the shares were acquired through the stock exchange and are part of Maithan Alloys' investment strategy to realise long-term and short-term investment benefits. Maithan Alloys does not intend to acquire direct or indirect control over HFCL's management.

Target Entity Profile

HFCL Limited operates as a technology enterprise specialising in high-end telecom and defence equipment, optical fibre, optical fibre cables, and passive connectivity solutions. It also develops digital networks for various sectors, including telecommunications, enterprises, and governments. The company provides engineering, procurement, and construction services.

Financial Overview of HFCL

As of 31 March 2026, HFCL reported a turnover of ₹4,528 crore, a profit after tax (PAT) of ₹253 crore, and a net worth of ₹4,727 crore. Its turnover for the financial years 2024-2025 and 2023-2024 stood at ₹3,795 crore and ₹4,075 crore, respectively.

Transaction Details

The event occurred on 8 October 2026, with the company becoming aware of detailed particulars on 9 October 2026.

Background

HFCL was incorporated on 11 May 1987, and has a presence across India.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.