India Cements Jumps 5% as UltraTech Launches Rs 740-Cr Stake Sale via OFS

Shares of India Cements rose nearly 5 percent to Rs 388 in early trade on August 21 after promoter UltraTech Cement opened its offer for sale (OFS) to divest up to 2.01 crore shares in the company. The proposed sale, announced on August 20, represents a 6.49% stake in India Cements. The floor price has been set at Rs 368 per share, valuing the total stake sale at over Rs 740 crore. The OFS window will remain open from August 21–22, the company said in its filing. UltraTech Cement held an 81.49% stake in India Cements at the end of Q1 FY26. Post this transaction, its holding will reduce to 75%, in line with minimum public shareholding norms. The move comes after UltraTech Cement’s acquisition of a 32.72% stake in India Cements in July 2024 for Rs 3,954 crore, followed by an open offer of Rs 3,142 crore. The deal was later cleared by the Competition Commission of India (CCI), cementing UltraTech’s position as a majority shareholder. Meanwhile, UltraTech Cement shares slipped 0.3% to Rs 12,835 at 9:30 am. #IndiaCements #UltraTechCement #OFS #StakeSale #StockMarket #NSE #BSE #CementStocks #MarketsToday #AdityaBirlaGroup #SEBI