21 Aug , 2025 By : Debdeep Gupta
The shares of India Cements jumped nearly 5 percent in the early trading hours of August 21, as promoter UltraTech Cement's offer for sale (OFS) to sell up to 2.01 crore shares in the company opened for bidding. India Cements shares were trading at around Rs 388 apiece.
UltraTech Cement on August 20 announced that its board has approved the plan to sell up to 2.01 crore shares of India Cements, representing 6.49 percent stake in the company.
The stake sale will be done through an offer for sale (OFS), the cement company added. The floor price for the stake sale has been set at Rs 368 per share and the offer window will remain open from August 21 to August 22. At the given floor price, the maximum value of the stake sale would stand at over Rs 740 crore.
In an exchange filing released in the post market hours of August 20, UltraTech Cement said, "We wish to inform you that the Committee of Directors and Officers of UltraTech Cement Limited ('MPS Committee'), at its meeting held today i.e. 20th August, 2025, has approved the sale of up to 2,01,12,330 equity shares of The India Cements Limited ('ICEM'), representing 6.49% of the issued and paid-up equity share capital of ICEM, by way of an offer for sale through the stock exchange mechanism, in accordance with applicable laws and the circulars issued by the Securities and Exchange Board of India and the stock exchanges."
UltraTech Cement held 81.49 percent stake in India Cements at the end of the June quarter of financial year 2026. After the stake sale, UltraTech Cement will hold 75 percent stake in the company.
UltraTech Cement had announced the acquisition of a 32.72 percent stake in India Cements from promoters and their associates in a Rs 3,954 crore deal in July 2024. Besides, it had also announced a Rs 3,142.35 crore open offer to acquire 26 percent stake of ICL from its shareholders.
Competition Commission of India in December approved UltraTech Cements acquisition of India Cements, following which the Aditya Birla Group-company became a majority shareholder of its Southern cement peer.
UltraTech Cement shares were trading in the red with marginal losses. The stock was down 0.3 percent to trade at Rs 12,835 apiece, as seen at 9.30 am.
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