Sagar Cements OFS News: Company to Sell 7.24% Stake in Andhra Cements via Offer for Sale
Sagar Cements Announces OFS for Andhra Cements Stake
Shares of Sagar Cements are set to remain in focus on Tuesday, March 17, after the company announced that its board has approved an Offer for Sale (OFS) of up to 66.76 lakh equity shares in its subsidiary, Andhra Cements.The proposed stake sale represents approximately 7.24% of Andhra Cements' total issued equity share capital.
OFS Schedule and Structure Details
The OFS will be conducted through a separate window on stock exchanges over two trading days, March 17 and March 18, between 9:15 am and 3:30 pm.On the first day, bidding will be open exclusively to non-retail investors. These investors will also have the option to carry forward any unallocated bids to the T+1 day, where they can be considered for allocation in the unsubscribed portion of the retail category.
Retail investors will be allowed to participate in the OFS on March 18. Non-retail investors who place bids on the first day and choose to carry them forward will also have the flexibility to revise their bids on the second day.
Shareholding Context and Regulatory Compliance
As per the December quarter shareholding pattern, promoters held a 90% stake in Andhra Cements. This exceeds the mandated Minimum Public Shareholding requirement of 75%, making the stake sale a step toward regulatory compliance.Sagar Cements Share Price Performance
Ahead of the announcement, shares of Sagar Cements closed marginally lower by 0.085% at ₹175.99 on Monday. The stock has declined by approximately 18% so far in 2026.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
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