Sagar Cements to sell stake in Andhra Cements to comply with MPS norms; stock in focus

Shares of Sagar Cements are trading flat on Tuesday, March 17, after the company said its board has approved an offer for sale (OFS) of up to 66.76 lakh equity shares in Andhra Cements, its subsidiary.The stake sale represents about 7.24% of the total issued equity share capital of Andhra Cements.

The OFS will be conducted through a separate window on the stock exchanges on March 17 (T day) and March 18 (T+1 day), between 9:15 am and 3:30 pm on both days.
On the first day of the offer, only non-retail investors will be allowed to place bids. These investors may also indicate their willingness to carry forward any unallotted bids to T+1 day for allocation in the unsubscribed portion of the retail category.Retail investors will be permitted to place their bids on March 18. Non-retail investors who participate on T day and opt to carry forward their bids will be allowed to revise them on the second day of the offer.

Based on the December quarter shareholding pattern, promoters of Andhra Cements had a 90% stake in the company, which is higher than the Minimum Public Shareholding norms of 75%.

Shares of Sagar Cements ended 0.085% lower at ₹175.99 on Monday, ahead of the OFS announcement. The stock has declined about 18% so far in 2026.