Udaipur Cement Works' promoters to offload 13.64% stake

NEW DELHI: The promoters of the Udaipur Cement Works, including JK Lakshmi Cement Ltd, will sell their combined stake of 13.64 per cent in the company at a floor price of Rs 10 per share.

The promoters of Udaipur Cement Works will sell the stake through the offer for sale (OFS) route tomorrow.

"The floor price offered under the sale shall be Rs 10 per share of Udaipur Cement Works Limited," the promoters told BSE.

"JK Lakshmi Cement, Florence Investech and JK Paper, part of the promoter group of Udaipur Cements Works, intend to make an offer for sale of 4,02,63,413 shares... representing 13.64 per cent of the equity share capital of the company," the company had said in a regulatory filing.