UltraTech Cement Promoter Sells Rs 2,896 Cr Stake

Pilani Investment and Industries Corporation, a promoter of UltraTech Cement, executed a block deal on Thursday, offloading a 0.85% stake valued at Rs 2,896 crore through open market transactions. This significant sale involved 25 lakh equity shares, impacting the overall promoter group’s holding in the cement major.

Transaction Details

• Shares Sold: 25 lakh equity shares
• Stake Divested: 0.85%
• Transaction Value: Rs 2,896 crore
• Average Sale Price: Rs 11,585 per share
• Tranches: 18

The transaction notably reduced Pilani Investment’s direct holding in UltraTech Cement from 1.5% to approximately 1%. Consequently, the combined stake of the promoters and promoter group entities declined from 59.33% to 58.49% post-sale.

Key Acquirers

• Domestic Institutional Investors: HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, National Pension Insurance Fund, Aditya Birla Sun Life Mutual Fund, Canara HSBC Oriental Bank of Commerce Life Insurance
• Foreign Investors: JP Morgan, Government Pension Fund Global (Norway’s sovereign wealth fund)

Following the block deal, UltraTech Cement’s shares on the BSE saw a slight dip, closing nearly 1% lower. The stock settled at Rs 11,750 apiece by the end of trading on Thursday.

Recent UltraTech Activities

This stake sale occurred shortly after UltraTech Cement announced its agreement to acquire a 26% stake in Solaris Horizon Energy, a company specialising in renewable energy generation and transmission.

The cement major also recently reported robust financial results for the June quarter of FY27. Its consolidated net profit surged by 17.23% to Rs 2,603.72 crore, while revenue from operations increased by 15.85% to Rs 24,648.20 crore compared to the previous year.