Andhra Cements hits 10% upper circuit, Sagar Cements rises as OFS opens

Andhra Cements and Sagar Cements shares gained up to 10 per cent in trade on the BSE, after the offer for sale (OFS) proposed by Sagar Cements in Andhra Cements opened. 

 

Individually, Andhra Cements shares hit 10 per cent upper circuit at ₹56 per share on BSE and Sagar Cements shares rose 1.9 per cent to touch intra-day high at ₹175 per share. 

 

However, at 9:56 AM, Andhra Cements’ share price was trading 8.11 per cent higher at ₹55.04 and Sagar Cements’ share price was trading 0.96 per cent higher at ₹173.25 per share. In comparison, Sensex was up 0.23 per cent at 75,677.76. 

 

 

The buying on the counters came after the OFS window opened for non retail investors. Under the OFS, Sagar Cements, the promoter of Andhra Cements, announced to divest up to 66,76,843 equity shares, representing 7.24 per cent of Andhra Cements’ total paid-up equity share capital, through the stock exchange mechanism.

 

“Sagar Cements is the promoter of Andhra Cements. The promoter (the "Seller") proposes to sell up to 66,76,843 equity shares of the company, (representing 7.24 per cent of the total paid up equity share capital of the company) ("Offer Size"), on March 17, 2026 ("T day") (for non-Retail Investors only) and on March 18, 2026 ("T+1 day") (for Retail Investors and for non-Retail Investors who choose to carry forward their un-allotted bids) through a separate, designated window of the BSE Limited (the "BSE") and the National Stock Exchange of India Limited ("NSE", and together with the BSE, the "Stock Exchanges"),” the fling read.  

 

The floor price for the offer was fixed at ₹52 per equity share. The OFS opened today, March 17, 2026 (T day) for non-retail investors only, and on March 18, 2026 (T+1 day) for retail investors and for non-retail investors who opt to carry forward their unallotted bids, according to the notice issued to the stock exchanges.

 

The sale was to be conducted through a separate, designated OFS window on BSE and the National Stock Exchange (NSE). Shares proposed to be sold are held in dematerialised form, and the offer will be undertaken exclusively through the seller’s brokers, the notice said. 

 

Sagar Cements said the OFS is being undertaken, among other reasons, to help achieve the company’s minimum public shareholding requirements prescribed under the applicable rules and Securities Exchange Board of India’s (Sebi’s) listing regulations, and is one of the methods permitted under Sebi’s guidelines for MPS compliance.