Andhra Cements' promoter, Sagar Cements, has completed the sale of approximately 66.77 lakh equity shares (representing a 7.24% stake) via an Offer For Sale.

This strategic move has reduced the promoter's shareholding from 82.24% to 75% of the company's paid-up equity capital.

The issue was to achieve compliance with Minimum Public Shareholding requirements, and this action successfully increased public shareholding to the mandated 25%. The company is now fully compliant with the public shareholding norms.