UltraTech to sell up to 6.49% in India Cements through offer for sale

UltraTech Cement plans to sell up to 6.49% stake in India Cements through an offer for sale on August 21-22, aiming to reduce its holding to 75% to comply with SEBI norms. The floor price is set at ₹368 per share, potentially raising nearly ₹740 crore. UltraTech acquired India Cements in 2024 and is expanding its production capacity.