Shares of Andhra Cements moved sharply higher on Friday, January 9, rising 7.66% to Rs 74.38 on the National Stock Exchange, as of 9:22 am IST.
The stock gained after Sagar Cements announced an Offer for Sale (OFS) of its stake in Andhra Cements to comply with minimum public shareholding norms.
OFS announcement drives stock movement
Sagar Cements informed exchanges that it will divest up to 75 lakh equity shares of Andhra Cements through the OFS route. The shares on offer represent 8.14% of the total paid-up equity share capital of Andhra Cements and will be sold at a floor price of Rs 72 per share, with a face value of Rs 10 each.
The OFS is being conducted through BSE Limited, with clearing handled by the National Securities Clearing Corporation Limited, and Anand Rathi Share and Stock Brokers Limited acting as the sole broker.
OFS schedule and investor participation
As per the disclosed timeline, January 9, 2026 (T Day) is reserved exclusively for non-retail investors, who can place bids between 9:15 am and 3:30 pm. These investors also have the option to carry forward any unallotted bids to the next trading day.
On January 12, 2026 (T+1 Day), retail investors will be allowed to participate by placing fresh bids, while eligible non-retail investors may revise their carried-forward bids during the same trading window.
Allocation structure
The allocation framework provides that at least 25% of the OFS shares are reserved for mutual funds and insurance companies, while retail investors are allotted a minimum of 10% of the offer size. Retail investors are defined as individuals bidding for shares with a total value not exceeding Rs 2 lakh across stock exchanges. Retail participants may bid at any price above the floor price or opt for a cut-off price, which will be determined based on non-retail bids.
The stock remained in focus during Friday’s session as investors tracked the OFS pricing, structure, and timelines following the divestment announcement.
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