Shares of India Cements surged nearly 5% to around ₹388 apiece in early trade on August 21 after UltraTech Cement opened its offer for sale (OFS) to divest up to 2.01 crore shares, representing a 6.49% stake in the company.
UltraTech Cement, which currently holds 81.49% stake in India Cements (as of June 2025), will reduce its holding to 75% post-transaction. The floor price for the OFS has been set at ₹368 per share, valuing the total sale at over ₹740 crore. The offer window will remain open from August 21–22.
The decision was approved in UltraTech’s board meeting on August 20, with the company confirming the sale through a stock exchange filing, in line with SEBI regulations.
The development comes a year after UltraTech acquired a 32.72% stake in India Cements from promoters in a ₹3,954-crore deal (July 2024), followed by an open offer worth ₹3,142 crore to acquire an additional 26%. The acquisition received approval from the Competition Commission of India in December 2024, cementing UltraTech’s position as majority shareholder.
