UltraTech to Offload 6.5% Stake in India Cements via OFS

UltraTech Cement, a promoter of The India Cements, will sell up to 20.1 million shares, representing a 6.5% stake, in the company through an offer for sale. The floor price has been set at ₹368 per share, according to an exchange filing.

Bidding will open for non-retail investors on Thursday, while retail investors can participate on Friday. The offer will also remain open on Friday for non-retail investors carrying forward unallotted bids. UltraTech said the stake sale is aimed at meeting minimum public shareholding norms.