Sagar Cements Limited has informed the Exchange about an announcement with respect to offer for sale through Stock Exchange Mechanism for sale upto 66,76,843 Equity shares of face value of INR 10/- each of Andhra Cements Limited. Date and time of the opening of the offer for Non-Retail Investors: March 17, 2026 at 9:15 a.m.; Date and time of the closing of the offer for Non-Retail Investors: March 17, 2026 at 3:30 p.m.; Date and time of the opening of the offer for Retail Investors: March 18, 2026 at 9:15 a.m.; Date and time of the closing of the offer for Retail Investors: March 18, 2026 at 3:30 p.m. The Sale shall continue to take place on a separate window of the Stock Exchanges commencing at 9:15 a.m. and shall close at 3:30 p.m. (Indian Standard Time) on the same date. The Floor Price for the Offer shall be INR 52/- (Rupees Fifty-Two Only)
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Sagar Cements Limited, the promoter of Andhra Cements Limited, plans to sell up to 66,76,843 equity shares (7.24% of the company's paid-up equity capital) through an Offer for Sale on the stock exchanges. The floor price is set at ₹52 per share, and there is no retail discount. Non-retail investors can bid on March 17, 2026, while retail investors can bid on March 18, 2026, with both windows running from 9:15 AM to 3:30 PM. The sale aims to help the company meet the minimum public shareholding requirement under SEBI's Listing Regulations and the Securities Contracts Rules. Anand Rathi Share and Stock Brokers is acting as the sole broker for this offer.
This promoter-led OFS will increase the public float and trading liquidity in Andhra Cements, but the supply of 7.24% of equity coming to the market may create short-term selling pressure near the ₹52 floor price. Long-term, it signals compliance with minimum public shareholding norms, which is a regulatory positive rather than a strategic shift.