Pilani Investment and Industries Corporation is set to sell approximately 1.7 million equity shares of UltraTech Cement through a block trade on Indian stock exchanges on August 13, 2026. The transaction is valued at around ₹1,908.5 crore at the offer floor price.
The proposed sale represents approximately 0.57% of UltraTech Cement’s outstanding equity shares. The shares are being offered at a floor price of ₹11,481 apiece, which is around 3% below UltraTech Cement’s closing price of ₹11,836 on the BSE on August 12.
The transaction is a 100% secondary sale, with Pilani Investment and Industries Corporation acting as the selling shareholder. Jefferies India Private Limited has been appointed as the sole bookrunner and broker for the transaction.
The offer was opened on August 12 and was scheduled to close on August 13 at around 7:30 a.m. IST, with an option for an earlier closure. Settlement is expected on August 14. The transaction is targeted at institutional investors and is not available for distribution to retail clients.
According to the deal terms, investors are required to indicate demand sensitivities across the price range. No pricing guidance was to be provided until the shares were crossed on the stock exchanges. The transaction also carries a 60-day lock-up period.
Separately, UltraTech Cement has announced an agreement to acquire a 26% equity stake in Solaris Horizon Energy Private Limited, a company engaged in renewable energy generation and transmission.
UltraTech Cement has entered into an Energy Supply Agreement and a Share Subscription and Shareholders Agreement in connection with the transaction. The company said the acquisition is intended to support its green energy requirements, optimise energy costs and meet regulatory requirements related to captive power consumption under electricity laws.
The renewable energy investment forms part of UltraTech Cement’s efforts to increase the use of cleaner energy sources in its operations. The company disclosed the development through an exchange filing on August 12.
The two developments involving UltraTech Cement come at a time when the cement manufacturer is pursuing measures related to both shareholder transactions and energy procurement. While the Pilani Investment deal involves a secondary sale of existing UltraTech shares, the Solaris Horizon Energy transaction is linked to the company’s renewable energy requirements.
The proposed share sale by Pilani Investment is expected to provide institutional investors with an opportunity to acquire UltraTech Cement shares at a discount to the previous market closing price, subject to the final transaction price determined through the book-building process.
