Shares of India Cements rose nearly 5% in early trade on Thursday after promoter UltraTech Cement unveiled plans to offload up to 6.49% stake in the company through the offer for sale (OFS) route. The floor price for the OFS has been fixed at ₹368 per share, a discount of 0.54% to Wednesday’s closing price of ₹370 on the BSE.

The two-day share sale will open for non-retail investors on August 21, 2025, and for retail investors on August 22, 2025.

In anticipation of the OFS, India Cements shares jumped 4.75% to ₹387.60 on the BSE, while its market capitalisation climbed to ₹11,850 crore. The cement stock opened 1% higher at ₹374.05.

Meanwhile, parent UltraTech Cement slipped into the red after a positive start. The cement heavyweight declined as much as 0.67% to ₹12,785.15 after opening higher at ₹12,946.80 against the previous closing price of ₹12,871.25. The market cap stood at ₹3.77 lakh crore at the time of reporting.

India Cements, in an exchange filing last evening, said that UltraTech proposes to sell up to 2.01 crore equity shares (representing 6.49% of the total paid-up equity share capital) through an OFS on the stock exchanges.

Currently, UltraTech, which acquired a controlling stake in India Cements in July last year, owns around 81.5% shares in the cement company. The stake sale will bring the Aditya Birla Group flagship’s shareholding down to about 75%, aligning with regulatory norms.

“UltraTech Cement, promoter of India Cements, proposes to sell up to 2,01,12,330 equity shares of the company (representing 6.49% of the total issued and paid-up equity share capital of the company) on August 21, 2025 (T day) for non-retail investors, and on August 22, 2025 (T+1 day),” the filing noted.

The offer shall be undertaken exclusively through the seller's brokers (BSE & NSE), on a separate window provided by the stock exchanges for this purpose, the release noted.

As per the release, on T Day (August 21, 2025), only non-retail investors will be permitted to place their bids during market hours. On the following day, T+1 Day (August 22, 2025), the offer will be open exclusively for retail investors, while non-retail investors who placed bids on T Day may also carry forward their unallotted bids for allocation in the unsubscribed portion of the retail category.

India Cements is among the leading cement producers in South India, with a strong presence across all five southern states. The company manufactures Ordinary Portland Cement and Portland Pozzolana Cement in a 37:67 mix under its well-known brands — Coromandel, Sankar, and Raasi. It has an installed cement capacity of 14.5 million tonnes per annum (MTPA), supported by 11.13 MTPA clinker capacity. This footprint strategically complements UltraTech Cement’s southern operations, which include 2 MTPA in Telangana, 5 MTPA in Tamil Nadu, and 10.6 MTPA in Andhra Pradesh.

(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)