India Cements’ shares surged following UltraTech Cement’s announcement of selling up to 6.49% stake through an offer for sale (OFS) to comply with SEBI’s minimum public shareholding norms. UltraTech, the majority shareholder after acquiring India Cements in December 2024, aims to reduce its holding from 81.49%. The OFS will occur over two days, with non-retail investors bidding first.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets