Sagar Cements Limited has successfully completed the offer for sale (OFS) of equity shares in its subsidiary Andhra Cements Limited, achieving compliance with minimum public shareholding requirements. The company sold 66,76,843 equity shares representing 7.24% of Andhra Cements' total issued and paid-up equity share capital through the stock exchange mechanism.

OFS Completion and Shareholding Impact

The OFS, which opened on March 17, 2026 and closed on March 18, 2026, resulted in a significant reduction in Sagar Cements' promoter holding in Andhra Cements Limited. Following the successful completion of the share sale, the promoter shareholding has decreased from 82.24% to 75% of the paid-up equity share capital.

Regulatory Compliance Achievement

With this transaction, Andhra Cements Limited has successfully met the minimum public shareholding requirements of 25% as mandated under Rules 19(2)(b) and 19A of the Securities Contracts (Regulation) Rules 1957, read with Regulation 38 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company completed this compliance within the stipulated time period.

The OFS was conducted in accordance with SEBI Circular No. SEBI/HO/CFD/PoD2/P/CIR/2023/18 dated February 3, 2023, ensuring adherence to regulatory guidelines for achieving minimum public shareholding through the stock exchange mechanism.

Transaction Structure and Execution

The original OFS structure included a floor price of ₹52 per equity share and was conducted over two trading days through designated windows on both BSE Limited and National Stock Exchange of India Limited. The offer followed a structured allocation approach with separate categories for retail and non-retail investors.

Corporate Communication

Company Secretary and Compliance Officer J. Raja Reddy communicated the successful completion of the OFS to both BSE Limited and National Stock Exchange of India Limited on March 19, 2026. The formal disclosure was made under Regulation 30 of SEBI LODR Regulations, confirming the achievement of minimum public shareholding requirements and requesting the exchanges to take the information on record.

Sagar Cements Limited has formally notified stock exchanges about the re-appointment of Smt. N. Sudha Rani as Nominee Director, following successful shareholder approval through postal ballot voting concluded on March 13, 2026. The company submitted the regulatory intimation to BSE and NSE in compliance with SEBI regulations.

Director Re-appointment Details

The company confirmed that shareholders approved the re-appointment of Smt. N. Sudha Rani (DIN: 09032212) as Nominee Director representing Telangana Industrial Development Corporation Limited (TSIDC) on the Board of Sagar Cements Limited. Her tenure extends from January 20, 2026, till January 31, 2028.

Postal Ballot Process and Results

The postal ballot notice was dispatched on February 10, 2026, to members whose email addresses were registered with the company or depositories. The remote e-voting period commenced on February 12, 2026, at 9.00 a.m. IST and concluded on March 13, 2026, at 5.00 p.m. IST. The cut-off date for determining voting eligibility was February 06, 2026, with 33,888 shareholders on record.

All three resolutions received strong shareholder support, with the director re-appointment resolution achieving 99.71% approval:

Additional Approved Resolutions

Besides the director re-appointment, shareholders approved the appointment of Mr. Sammidi Siddarth as Manager (Operations) with a monthly remuneration of Rs.5,00,000 and an annual increment of 10%. The Board received authorization to modify terms and conditions within approved limits.

Shareholders also approved material modifications to related party transactions with subsidiary Andhra Cements Limited, increasing the aggregate value from Rs.315 crores to Rs.630 crores for one year, along with approval for providing a loan of Rs.125 crores to Andhra Cements Limited.

Regulatory Compliance

Company Secretary J. Raja Reddy signed the formal intimation to stock exchanges, confirming compliance with SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, particularly Regulation 30. The company confirmed that Smt. N. Sudha Rani has not been debarred from holding the office of Director by any SEBI order or other authority.

B S S & Associates, Company Secretaries, served as the appointed scrutinizer for the postal ballot process, with KFin Technologies Limited providing the electronic voting platform. The successful completion enables Sagar Cements to proceed with its approved strategic initiatives and governance appointments.