Pilani Investment and Industries Corp., part of the Aditya Birla Group, is seeking to raise as much as Rs 19.09 billion (bn) by selling a zero point five seven per cent stake in UltraTech Cement through a block trade on 13 August, according to a term sheet seen by Mint. The move reflects a continued trend of investors and early backers monetising sizeable holdings through secondary-market transactions. The transaction size as disclosed equates to about $200 million (mn).

The seller is offering about one point seven mn UltraTech shares at a floor price of Rs 11,481 apiece, representing a three per cent discount to the cement maker's closing price of Rs 11,836 on 12 August. Pilani Investment's remaining holding after the trade would be one point five per cent of the company. Promoter entities collectively retain more than 59 per cent.

Market participants view block trades as a mechanism to provide liquidity without altering long term strategic ownership structures, and the deal fits within a broader pattern of secondary exits in recent months. UltraTech has entered fiscal year 27 with strong demand and reported double-digit volume growth, underpinning investor interest in the counter. The sale is being arranged through institutional channels and is set to be executed as a single block trade. Block trades facilitate liquidity for large holders while limiting immediate market impact and allowing orderly transfer of substantial parcels.

The term sheet did not disclose allocation or execution details. Based on the sizes indicated, the transaction would not alter promoter control since promoter entities retain more than 59 per cent. The reported floor pricing and discount suggest an effort to balance speed with realisation for the seller.