Wednesday, July 30, 2025
HomeStocksUltraTech Cement: UltraTech's open offer for India Cements oversubscribed

UltraTech Cement: UltraTech’s open offer for India Cements oversubscribed

-

[ad_1]

Mumbai: UltraTech Cement’s open offer for subsidiary India Cements has seen a rare oversubscription, thanks to its high offer price. Less than 5% open offers launched since 2015 in the country have been fully subscribed, data compiled by ET showed.

The ₹390-per-share offer, open from January 8 to 21, was subscribed 110%. It will increase UltraTech’s stake in India Cements to 81.49%. India Cements’ shares closed at ₹295.15 on Friday, marking a nearly 22% gain in a year.

“They were offering a very good value compared to the price at which they bought from the Damanis. So, ideally, anyone who has bought the shares at Rs 300 or below would like to tender their shares,” said Mangesh Bhadang, analyst at Centrum Broking. UltraTech will now have to pare its holding in India Cements to less than 75% to comply with market regulator Securities and Exchange Board of India’s minimum public shareholding norms. “We will now hold about 81.49% equity in the company, and there are regulatory processes to be followed to bring it down to 75%, which we will be doing as per timelines allowed,” UltraTech Cement chief financial officer Atul Daga said.

UltraTech’s Open Offer for India Cements Oversubscribed 110%Agencies

TURNAROUND
The Aditya Birla Group company is aiming a turnaround in the performance of India Cements in 12 months from now. “We have started engaging with our team at ICL (India Cements Ltd) and studying the opportunities that lie before us,” Daga said. “The initial review gives us an opportunity of de-bottlenecking some of the capacities, two or three plants, as well as some brownfield expansion opportunities exist in another two or three plants,” he said.

[ad_2]

Source link

LATEST POSTS

Talk Fusion 2.0: The Smartest Business to Join in 2025

In today’s fast-paced digital economy, people are seeking smarter, faster, and more sustainable ways to generate income. As traditional job security fades and remote work...

How to Host a Tournament in 92 Pak Game

The Excitement of Organizing Your Own Tournament Hosting a tournament in the 92 Pak Game is more than just a competition—it’s a celebration of community, gaming...

Real Money Pokies Online Live Dealer Options

Real money pokies online have been a favorite among casino enthusiasts for years, offering thrilling gameplay and the chance to win actual cash prizes from...

Ceritafilm Explores the Heart of Every Movie Through Story Reviews

Introducing ceritafilm: Where Movies Meet Meaningful Stories In a world flooded with movie ratings, short reviews, and spoiler-filled discussions, https://ceritafilm.com stands out by offering something truly...

Most Popular

spot_img