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UltraTech Cement Ltd has launched an offer for sale to divest about 6.5% of India Cements Ltd, equivalent to roughly 2.01 crore shares, in a transaction that could raise between Rs 740 crore and Rs 745 crore. The shares are being offered at a floor price of Rs 368 apiece, according to exchange disclosures cited in market reports. Proceeds will help India Cements move toward meeting Securities and Exchange Board of India rules that require at least 25% public shareholding by 2026.
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