Maithan Alloys Limited has acquired a 0.17% equity stake in HFCL Limited for ₹60.09 crore through stock exchange transactions. The acquisition, completed on October 1, 2026, involved 2,527,000 equity shares and forms part of Maithan Alloys’ investment activities using its available funds.
In its regulatory disclosure, Maithan Alloys stated that the shares were acquired with the objective of pursuing short-term and long-term investment benefits. The company clarified that the transaction does not involve any intention to acquire direct or indirect control over HFCL’s management.
The acquisition was carried out through a cash transaction on an arm’s-length basis. The company also confirmed that the deal does not constitute a related-party transaction and that no governmental or regulatory approvals were required.
HFCL operates in the telecommunications and infrastructure sectors, with a portfolio that includes telecom and defence equipment, optical fibre, optical fibre cables and passive connectivity solutions. The company also undertakes engineering, procurement and construction (EPC) activities for digital network infrastructure serving telecom operators, enterprises and government organisations.
For the financial year ended March 31, 2026, HFCL reported a turnover of ₹4,528 crore, a profit after tax of ₹253 crore and a net worth of ₹4,727 crore. Its turnover stood at ₹3,795 crore in FY2024-25 and ₹4,075 crore in FY2023-24.
The investment follows an earlier acquisition by Maithan Alloys, which purchased 2,753,500 shares, representing a 0.18% stake in HFCL, for ₹50.04 crore on June 9, 2026. The latest transaction adds to its holdings in the telecommunications infrastructure company.
Maithan Alloys is primarily engaged in the manufacture of manganese and chrome alloys. Its investment in HFCL represents a financial allocation outside its core manufacturing business, with the company maintaining that the share purchases are intended for investment purposes rather than to influence HFCL’s management or operations.
