The board of UltraTech Cement Ltd. on Wednesday, August 20, approved the sale of up to 2.01 crore equity shares of India Cements, representing a 6.49% stake in the company.The stake sale will be carried out through an offer for sale (OFS), the cement major said in an exchange filing.
The sale comprises as many as 201.1 million shares at a floor price of ₹368 apiece, a 0.6% discount to the stock’s last close of ₹370.25 on the National Stock Exchange.
The offer size is estimated at ₹7,401.34 crore, based on the RBI’s reference exchange rate of ₹87.0919 per US dollar.
The issue is a secondary sale and does not involve issuance of new shares.
India’s largest cement maker, which took control of India Cements in July 2024, did not disclose the deal value.Following the sale, UltraTech Cement’s stake in India Cements will reduce to 75% from 81.49%.
Shares of UltraTech Cement Ltd. ended 0.07% higher at ₹12,872, while shares of India Cements settled 0.60% lower at ₹371 on Wednesday.
First Published: Aug 20, 2025 4:07 PM IS
