Andhra Cements hits 10% upper circuit as promoter to sell stake via OFS

Andhra Cements shares rose 10 per cent after its promoter said it plans to offload about 8.14 per cent via an offer for sale

Shares of Andhra Cements Ltd. hit a 10 per cent upper circuit on Friday after its promoter said it plans to offload about 8.14 per cent via an offer for sale, at a floor price higher than Thursday's close. 

 

The cement product maker's stock rose as much as 9.9 per cent during the day to ₹75.99 per share, the biggest intraday rise since August 26 last year. As of 9:40 AM, Andhra Cements stock was up 8.8 per cent at ₹75.3, compared to a 0.21 per cent decline in Nifty 50.

 

Shares of the company rose for the third day and currently trade at 48 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 6.2 per cent in the last 12 months, compared to a 9.5 per cent advance in the benchmark Nifty 50. Andhra Cements has a total market capitalisation of ₹699.22 crore.   CATCH STOCK MARKET UPDATES TODAY LIVE

 

Sagar Cements to sell stake in Andhra Cements 

Sagar Cements, the promoter of Andhra Cements, has announced an offer for sale (OFS) to divest up to 75,00,000 equity shares, representing 8.14 per cent of the company's total paid-up equity share capital.

 

On January 09, only non-retail investors can place bids. They may also indicate whether they wish to carry forward their unallotted bids to the next day for allocation against any unsubscribed portion of the retail category. Eligible non-retail investors can revise their carried-forward bids on January 12.

 

On January 12, bidding will be open to retail investors, along with non-retail investors who have carried forward their unallotted bids from the previous day. These non-retail investors will also be allowed to revise their bids in line with OFS guidelines. The floor price for the offer has been set at ₹72 per equity share.

 

The OFS will be conducted through a separate window on the BSE and the National Stock Exchange of India in accordance with OFS guidelines. The shares offered are held in dematerialised form and will be sold exclusively through the seller’s brokers.  ALSO READ | Vodafone Idea shares jump 9% after DoT communication on AGR dues relief

 Andhra Cements Q2 recap

Andhra Cements reported a net loss of ₹41.92 crore for the quarter ended September 2025, compared with a net loss of ₹34.88 crore in the corresponding quarter last year. Revenue from operations rose 41.91 per cent year-on-year to ₹77.85 crore during the quarter, from ₹54.86 crore in the same period of the previous year.