Pilani Investment to sell 1.7 million UltraTech Cement shares for ₹1,908 crore

Pilani Investment and Industries Corporation is planning to sell around 1.7 million shares of UltraTech Cement on the Indian stock exchanges. This sale is expected to occur on Thursday, August 13, 2026. The transaction will account for roughly 0.57% of UltraTech Cement's total outstanding shares, according to the deal documents.

The books for this offering opened on August 12 and are set to close on August 13 at approximately 7:30 a.m. IST, though there is a possibility of an earlier closure. The trade date is anticipated to be August 13, with settlement expected on August 14.

The minimum price for these shares, known as the offer floor price, is set at Rs 11,481 per share, which is a 3% discount from UltraTech Cement's closing price on the BSE on August 12. At this price point, the deal is valued at approximately Rs 1,908.5 crore, or around $200 million. This is a fully secondary transaction, meaning Pilani Investment and Industries Corporation is the seller, and Jefferies India Private Limited is handling the process as the sole bookrunner and broker. The transaction includes a 60-day lock-up period.

This sale is open exclusively to institutional investors and not for retail clients. There will be no pricing guidance provided until the shares begin trading on the Indian stock exchanges on August 13. Investors must indicate their interest in the shares within the price range during the offering period.

Additionally, UltraTech Cement has announced its intention to acquire a 26% stake in Solaris Horizon Energy Private Limited, a company involved in renewable energy generation and transmission. This acquisition aims to meet the company's green energy objectives, optimize energy costs, and comply with regulatory requirements for captive power generation under electricity laws, as per an exchange filing on August 12.