The board of UltraTech Cement Ltd. on Wednesday, August 20, approved the sale of up to 2.01 crore equity shares of India Cements, representing a 6.49% stake in the company.

The stake sale will be carried out through an offer for sale (OFS), the cement major said in an exchange filing.

India’s largest cement maker, which took control of India Cements in July 2024, did not disclose the deal value.

Following the sale, UltraTech Cement’s stake in India Cements will reduce to 75% from 81.49%.

Shares of UltraTech Cement Ltd. ended 0.07% higher at ₹12,872, while shares of India Cements settled 0.60% lower at ₹371 on Wednesday.