The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sagar Cements Ltd
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Sagar Cements Ltd, the promoter of Andhra Cements Ltd, sold 71,48,978 equity shares (7.76% of paid-up capital) through an Offer for Sale on the stock exchanges on January 9 and 12, 2026. Before the sale, the promoter held 66.25% directly with another 23.75% pledged (total 90%). After the sale, direct holding dropped to 58.49% (5,39,15,065 shares) while pledged shares remained unchanged at 23.75%, bringing total promoter holding to 82.24%. The original OFS was announced for up to 8.14% of equity, of which 7.76% was subscribed. The sale was carried out under SEBI's OFS framework open to both retail and non-retail investors.
A promoter stake sale via OFS typically creates short-term supply pressure on the stock and may weigh on price. However, the promoter still retains a comfortable majority at 58.49% direct holding, so control of the company is not threatened.