Sagar Cements Ltd reduced its promoter shareholding in Andhra Cements to 82.24% after selling 7.76% via an offer for sale (OFS). The sale part of a move toward SEBI’s 25% minimum public float lifted public shareholding to 17.76%. The OFS ran on January 9 and 12, with a floor price above the prior close.
Sagar Cements Ltd, promoter of Andhra Cements, executed an OFS on January 9 and 12, 2026, divesting 7,148,978 shares, equal to 7.76% of paid-up equity. Post-transaction, promoter holding declined from 90% to 82.24%, while public shareholding rose from 10% to 17.76%, advancing compliance with minimum public shareholding norms.
Key highlights:
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Stake sold: 7.76% of Andhra Cements via OFS, totaling 7,148,978 shares.
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Timing: OFS windows for non-retail (Jan 9) and retail/carry-forward bids (Jan 12).
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Holdings shift: Promoter down to 82.24%; public up to 17.76%.
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Regulatory context: Step toward SEBI-mandated 25% public float.
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Market reaction: Andhra Cements hit a 10% upper circuit as the OFS was announced, with the floor price set above the previous close.
The calibrated reduction signals Sagar Cements’ intent to meet regulatory thresholds while allowing broader market participation. Near term, increased free float may improve stock liquidity; medium term, governance and index eligibility dynamics could also benefit as public shareholding moves toward 25%.
Sources: FilingReader Intelligence; Business Standard; CNBC-TV18