Mangalore Chemicals and Fertilizers’ (MCFL) promoter firm McDowell Holdings has offloaded 1.01% stake in the company for Rs 3.4 crore in the open market. McDowell Holdings sold 12 lakh shares for Rs 3,39,67,165. Out of 12 lakh shares, the promoter offloaded 6.75 lakh shares on BSE and 5.25 lakh shares on the NSE. The stake of McDowell Holdings in MCFL has now come down to 4.92% from the earlier 5.93%.
Mangalore Chemicals & Fertilizers (MCF) is the only manufacturer of chemical fertiliser in state of Karnataka. This Karnataka based company is Rs 1625 crore enterprise that manufactures products such as urea, di-ammonium phosphate, muriate of potash, granulated fertilizers, micronutrients, soil conditioners and specialty fertilizers.
