New Delhi, Aug. 12 -- Aditya Birla Group's Pilani Investment and Industries Corp. is seeking to raise as much as Rs.1,909 crore ($200 million) by selling a 0.57% stake in UltraTech Cement Ltd through a block trade on Thursday, 13 August, according to a term sheet seen by Mint.

The seller is offering about 1.7 million UltraTech shares at a floor price of Rs.11,481 apiece, a 3% discount to the cement maker's closing price of Rs.11,836 on 12 August. Pilani Investment currently holds a 1.5% stake in UltraTech, while promoter entities collectively own more than 59%.

Jefferies India Pvt. Ltd is the sole bookrunner and broker for the transaction. The seller will be subject to a 60-day lock-up after the trade is executed. At the time of publish...