Andhra Cements Shares Hit 10% Upper Circuit on Promoter OFS Launch

Shares of

ents Ltd surged 10% to hit the upper circuit limit in early trade on Friday, marking the stock's strongest intraday gain since August 2025. The rally was triggered by the opening of an Offer for Sale (OFS) by promoter Sagar Cements Ltd, which is divesting up to 75 lakh equity shares representing 8.14% stake in the company. The move aims to comply with SEBI's minimum public shareholding (MPS) norms, as Sagar Cements currently holds around 90% in Andhra Cements. The OFS floor price has been fixed at ₹72 per share, offering a premium of approximately 4-9% over Thursday's closing price of around ₹69. Trading volumes spiked sharply, with over 1.4 lakh shares changing hands—well above the 30-day average of about 16,200 shares. The OFS is open for non-retail investors today (January 9) and will extend to retail investors on Monday, January 12, via a separate window on BSE and NSE.