Finance ministry has proposed to divest 12.5% stake in Rashtriya Chemicals and Fertilizers (RCF) via the offer for sale route, as mentioned in a media report. The government, which is looking to raise Rs 368 crore, currently holds 92.5% stake and will retain 80% of stake in the company post the stake sale.
Meanwhile, 68.96 million RCF shares are likely to be put up for sale, which will be spread out in tranches over time. However, EGoM will have final say on the floor pricing issue, besides deciding upon number of tranches the in which the stake sale will take place. Further, options other than offer for sale route would be open if market conditions warrant.
RCF is one of the leading producers of fertilizers in India. Sujala, Suphala 15:15:15, Suphala 20:20:0, Ujjwala, Microla and Biola are its major fertilizer brands.
Company Name | CMP |
---|---|
Coromandel Interntl. | 1290.15 |
National Fertilizers | 105.25 |
Chambal Fert & Chem | 405.40 |
RCF | 157.05 |
Paradeep Phosphates | 68.09 |
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