Pilani Investment and Industries Corporation is set to sell approximately 1.7 million equity shares of UltraTech Cement through a vendor sale on the screen-based trading platforms of Indian stock exchanges, with the trade expected to take place on Thursday, August 13, 2026.
The offer represents approximately 0.57% of UltraTech Cement’s existing total outstanding equity shares, based on shareholding available on the BSE for the quarter ended June 30, 2026, according to the deal term documents.
The books opened on August 12 and are scheduled to close on August 13 at around 7:30 a.m. IST, with an option to close earlier. The expected trade date is August 13, with settlement expected to take place on August 14.
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The offer floor price has been set at Rs 11,481 per equity share, representing a 3% discount to UltraTech Cement’s last closing price of Rs 11,836 on the BSE as of August 12. At the offer floor price, the transaction is valued at approximately Rs 1,908.5 crore, or about $200 million.
The transaction is 100% secondary, with Pilani Investment and Industries Corporation as the seller. Jefferies India Private Limited is the sole bookrunner and sole broker for the transaction. The transaction carries a 60-day lock-up.
The transaction is being offered to institutional investors and is not for distribution to retail clients.
“No pricing guidance will be provided until the equity shares are crossed on the Indian stock exchanges on August 13. Investors are required to indicate demand sensitivities across the price range,” the deal term documents said.
UltraTech eyes 26% stake in Solaris Horizon Energy
In another development, UltraTech Cement has informed the exchanges that it has entered into an Energy Supply Agreement and Share Subscription and Shareholders Agreement to acquire a 26% equity stake in Solaris Horizon Energy Private Limited, a company engaged in the generation and transmission of renewable energy.
“The acquisition is for the purposes of meeting the Company’s green energy needs, optimising energy cost and comply with regulatory requirements for captive power consumption under electricity laws,” UltraTech Cement said in an exchange filing on August 12.
