Sagar Cements will sell up to about 66.76 lakh equity shares of face value of ₹10 each, equivalent to 7.24 per cent of the total issued equity share capital of Andhra Cements, through Offer For Sale (OFS)
The proposed shares of Andhra Cements, a subsidiary of the Hyderabad-based company, are for achieving Minimum Public Shareholding, Sagar Cements informed the Bombay Stock Exchange on Monday.
Sagar Cement’s share lost 2.05 per cent on the BSE on Monday to end at ₹171.60.