The Finance Ministry has initiated the process of 7.64% stake sale or over 3.74 crore shares of National Fertilizers (NFL) through Offer for Sale (OFS) route in the domestic market. It will soon appoint merchant bankers for the disinvestment, which may fetch over Rs 172 crore to the exchequer. The Department of Disinvestment (DoD) has invited expression of interest (EoI) from merchant bankers with experience in public offerings/OFS to act as book running lead managers and to assist and advise government in the process. The government at present holds 97.64% stake in NFL.
An Inter-Ministerial Group (IMG) last week had approved the government’s stake sale of 7.64% in National Fertilizers by way of offer for sale. The stake sale in NFL is part of DoD’s effort to meet the minimum 10% public shareholding norm as stipulated by market regulator SEBI for PSUs.
