India Cements Shares Surge 5% as UltraTech’s OFS Opens

s Ltd shares jumped 5% on the NSE, hitting an intraday high of Rs 388.50, as UltraTech Cement Ltd initiated an offer for sale (OFS) to divest a 6.49% stake in the company. The OFS, approved by UltraTech’s board on August 20, involves the sale of up to 2.01 crore equity shares at a floor price of Rs 368 per share, valuing the transaction at approximately Rs 740 crore. The offer window, opened on August 21 for non-retail investors and extending to August 22 for retail investors, aims to reduce UltraTech’s stake in India Cements from 81.49% to 75% to comply with SEBI’s minimum public shareholding norms. UltraTech, which acquired a majority stake in India Cements in 2024, announced the move in an exchange filing, stating it aligns with regulatory requirements and stock exchange guidelines. The market’s positive response reflects investor optimism about the deal, despite UltraTech’s shares trading marginally lower at Rs 12,835. The OFS is expected to enhance liquidity for India Cements while reinforcing UltraTech’s strategic focus on maintaining compliance and optimizing its portfolio.