UltraTech to offload 6.5% stake in India Cements
UltraTech, which took control of India Cements in July last year, held 81.49 per cent in the Chennai-based ICEM.
Representative Image
NEW DELHI: UltraTech Cement on Wednesday said it will sell 2.01 crore shares of India Cements, about 6.5 per cent stake in the company in the open market.
The stake sale will be done through an offer for sale (OFS), it said. In an exchange filing, UltraTech said “We wish to inform you that the Committee of Directors and Officers of UltraTech Cement Limioted (MPS Committee), at its meeting held today i.e. 20th August, 2025, has approved the sale of upto 2,01,12,330 equity shares of The India Cements Ltd (ICEM), representing 6.49% of the issued and paid-up equity share capital of ICEM, by way of an offer for sale through the stock exchange mecahnisam, in accordance with the applicable laws and the circulars issued by the Securities and Exchange Board of India and the stock exchanges.”
UltraTech, which took control of India Cements in July last year, held 81.49 per cent in the Chennai-based ICEM. Post sale, UltraTech will hold 75% stake in India Cements, thereby conforming to the Sebi mandate for promoters.
