Hyderabad-based cement manufacturer Sagar Cements Ltd has approved an offer for sale (OFS) of up to 66.76 lakh equity shares, representing 7.24% of the total paid-up equity share capital of its subsidiary Andhra Cements Ltd. According to the latest regulatory filing, the OFS will be conducted through a separate window on stock exchanges at a floor price of ₹52 per share. The offer will open for non-retail investors on March 17, 2026 (T day), and for retail investors on March 18, 2026 (T+1 day). The trading window will operate between 9:15 AM and 3:30 PM on both days. Following the announcement, shares of Sagar Cements declined 0.09% to close at ₹175.99 on Monday, as reported by Upstox.
Under the offer structure, only non-retail investors will be allowed to place bids on T day, while those who choose to carry forward unallotted bids will be allowed to revise them on T+1 day. As reported in the regulatory filing, retail investors will be permitted to place bids on March 18, while non-retail investors who opted to carry forward unallotted bids can revise their bids on the same day. The allocation will be done at or above the floor price on a price-priority basis at multiple clearing prices, with retail investors having the option to bid at the cut-off price. According to Upstox, retail investors can bid for shares not more than ₹2,00,000 aggregated across stock exchanges, and the company has reserved 10% of the OFS shares for retail investors, with the rest allocated to non-retail bidders.
The OFS is being undertaken to meet the Minimum Public Shareholding (MPS) norms as prescribed by the Securities and Exchange Board of India (SEBI). According to CNBC TV18, based on the December quarter shareholding pattern, promoters of Andhra Cements had a 90% stake in the company, which is higher than the Minimum Public Shareholding norms of 75%. The seller has reserved the right not to proceed with the offer before its opening on T day, and the offer may also be cancelled if there is insufficient demand at or above the floor price or if settlement obligations are not met.
Shares of Sagar Cements Ltd ended at ₹175.99, down by 0.09%, on Monday, March 16, ahead of the OFS announcement, as reported by Upstox. The stock has declined about 17.56% so far in 2026 and is trading 4.95% lower in the last five sessions. The OFS is being undertaken to meet the minimum public shareholding requirements as prescribed by SEBI, with the seller reserving the right not to proceed with the offer before its opening on T day. Meanwhile, Andhra Cements shares have lost 9.85% in one year and are down 22.32% on a year-to-date basis in 2026.
