Orient Cement Shares Slide Sharply After Open Offer Finalised at ₹395.40
By Shishta Dutta | Updated at: Jan 7, 2026 02:32 PM IST
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.
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