Sagar Cements Limited to sell equity shares via offer for sale

Sagar Cements Limited, the promoter of Andhra Cements Limited, plans to sell up to 46,08,607 Equity Shares, equivalent to 5% of the total paid-up equity share capital, on February 27, 2024, and February 28, 2024. The sale will occur through a designated window on the BSE Limited and the National Stock Exchange of India Limited.

The offering, representing 5% of the total issued and paid-up equity share capital of the Company, will take place from 9:15 a.m. to 3:30 p.m. (Indian Standard Time) on both days.

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Non-retail investors will be allowed to bid on February 27, 2024, with the option to carry forward un-allotted bids to February 28, 2024. Allocation will be based on price priority at multiple clearing prices, with the floor price set at ₹90 per Equity Share.

The stock exchanges will promptly inform the market of the floor price. Retail investors will have the option to bid at the Cut-Off Price, and the final allocation price may be below the floor price due to a retail discount.