UltraTech Cement to sell up to 6.5% stake in India Cements via OFS, floor price set at Rs 368 per share

UltraTech Cement

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

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.

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.

India Cements shares closed nearly 1 percent lower at Rs 370 apiece. At the current market price, the 2.01 crore shares of the company would be worth more than Rs 744 crore.

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 is expected to meet its capacity target of 200 million tonne per annum (MTPA) in the ongoing financial year, a full year ahead of schedule, Group Chairman Kumar Mangalam Birla said during the firm's annual general meeting on August 19.

"With nearly 70 percent of capital expenditure focused on growth, your company is firmly on track to cross 200 MTPA capacity in FY26 - a full year ahead of the original FY27 goal. This acceleration places us on an even stronger and more sustained growth trajectory for the years ahead," Birla said in his address.