Pilani Investment and Industries Corporation is set to sell about 1.7 million equity shares of UltraTech Cement through a block deal on the screen-based trading platform to raise ₹1,952 crore.
The offer will be at ₹11,481 per share and it will be at a discount of 3 per cent to Wednesday’s closing price of ₹11,836 a piece. The book will open for bidding on Thursday. Pilani Investment currently holds a 1.5 per cent stake in UltraTech, while promoter entities collectively own more than 59 per cent stake.
UltraTech Cement has committed a fresh capital expenditure of ₹10,255 crore to expand its production capacity by 22.8 mtpa. This investment pushes the company’s total targeted cement capacity to over 241 mtpa by fiscal year 2027-28 as part of its ongoing multi-year expansion strategy.
The company has also ventured into the wires and cables business with an allocated investment of ₹1,800 crore, slated for commissioning around December.
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