India Cements shares gain 4% after OFS for non-retail investors opens today
Published on 21/08/2025 10:35 AM
India Cements shares gain 4% after OFS for non-retail investors opens todayIndia Cements reported a positive Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) of ₹83 crore in the June quarter, after multiple quarters of losses.By Nigel D'Souza | Hormaz Fatakia August 21, 2025, 10:35:54 AM IST (Updated)1 Min ReadShares of The India Cements Ltd., now a subsidiary of India's largest cement company UltraTech Cement Ltd. are trading with gains of over 4% on Thursday, August 21, ahead of the Offer For Sale (OFS) from its parent company.
UltraTech's board on Wednesday has approved the sale of 6.49% stake in India Cements through this Offer for Sale (OFS) process.
The OFS will open for non-retail shareholders today and for retail shareholders on Friday.
Floor price of the OFS has been fixed at ₹368 per share, which is nearly the same as India Cements' closing price on Tuesday.
The 6.49% stake sale will fetch ₹740 crore to UltraTech at the current price. With this sale, UltraTech will also be in compliance with the Minimum Public Shareholding (MPS) norms, bringing its stake down to 75% from 81.49% previously.
In its recent earnings call, UltraTech had highlighted that the southern market of the country could be the next North in terms of growth potential.
India Cements reported a positive Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) of ₹83 crore in the June quarter, after multiple quarters of losses.
Shares of India Cements are trading 4.3% higher at ₹386.15. The stock had gained 8% ahead of Thursday's trading session.Continue ReadingFirst Published: Aug 21, 2025 7:18 AM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsIndia CementsIndia cements shareoffer for sale (OFS)share market todayUltraTech CementUltraTech Shares