Orient Cement Shares Slide Sharply After Open Offer Finalised at ₹395.40

June 18, 2025 – Orient Cement Ltd (NSE: ORIENTCEM) saw its shares plunge 16.99% to ₹251.65 in intraday trade on Wednesday, following the settlement of a major open offer transaction. The open offer started on May 27, 2025, and ended on June 9, 2025. The open offer was settled on June 18, 2025, and the transaction was finalised. After this, the value of Orient Cement’s shares dropped sharply.

Earlier on October 22, 2024, Ambuja Cements, part of the Adani Group, announced its acquisition of a 46.8% stake in Orient Cement Ltd. As part of this acquisition, Ambuja Cements launched an open offer to acquire up to 5.34 crore equity shares, representing 26% of Orient Cement’s expanded share capital, at a price of ₹395.40 per share.

Stock Snapshot (as of 12:23 PM IST, June 18)

Metric	Value
Current Price	₹251.45
Day’s Low/High	₹251.45 / ₹270.00
Previous Close	₹303.15
VWAP	₹261.08
52-Week High	₹379.00
52-Week Low	₹226.65
Total Market Cap	₹5,187.86 crore
Free Float Market Cap	₹2,796.96 crore
Traded Volume	46.42 lakh shares
Traded Value	₹121.19 crore

Open Offer Summary

Detail	Value
Offer Price per Share	₹395.40
Shares Acquired in Offer	5,34,19,567
Consideration Paid	₹2,112.21 crore
Acquirer’s Holding Post-Offer	14,92,92,730 shares
% Holding Post-Offer	72.66%
Date of Payment	June 18, 2025
Regulation Cited	SEBI (SAST) Reg. 29(2)

Price Band & Valuation

Right now, the stock is moving close to its lower circuit band of ₹242.55. Orient Cement had a high trailing P/E of 68.26, which put it in the Long-Term ASM Stage 1 category. This made it more likely to be subject to stricter volatility limitations because its valuation measures were so high.

Order Book & Market Depth

The order book as of the latest trade shows a strong selling pressure:

Bid Qty	Bid Price (₹)	Ask Price (₹)	Ask Qty
25	252.40	252.50	141
103	252.35	252.55	301
338	252.30	252.60	1,653
180	252.25	252.65	230
704	252.20	252.70	5,723

Total Buy Quantity: 2,36,224

Total Sell Quantity: 8,88,880

Regulatory and Strategic Context

This open offer is a big shift in control under the SEBI Takeover Regulations. The new buyer, who now owns 72.66% of the company, may start more restructuring or strategic realignment soon. Since no interest was paid because of delays in settlement, it looks like the deal concluded on schedule.

About the Company

Orient Cement Limited, listed on NSE and BSE since July 12, 2013, operates in the cement and cement products segment. It has a face value of ₹1 per share and forms part of the Nifty Total Market index. Known for its operations across Central and South India, the company has maintained a prominent presence in the mid-cap cement space.

Disclaimer:  At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations