The government is planning to sell stake in two fertiliser sector firms Rashtriya Chemicals and Fertilizers (RCF) and National Fertilizers (NFL) in 2016-17. The government will fetch about Rs 360 crore from the stake sale.
The Department of Investment and Public Asset Management (DIPAM) has invited bids from merchant bankers for divesting stakes in RCF and NFL. It is planning to sell 5 percent of its equity in RCF and 15 percent in NFL. Both transactions will take place through the offer-for-sale (OFS) or auction route.
The government will appoint two merchant bankers each for the stake sales in NFL and RCF. Five percent of the offer size will be reserved for eligible employees of the two mini-ratna PSUs who will also be offered a 5 percent discount on the issue price.
