Four merchant bankers viz, IDBI Capital Market Services, Avendus Capital, SBI Cap and Kotak Investment Banking, are in fray to manage the process of National Fertilisers (NFL)’s stake sale, which may fetch around Rs 148 crore to the exchequer. The merchant bankers would be making presentation to the Department of Disinvestment (DoD) on June 25.
Earlier this month, the Department of Disinvestment (DoD) 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.
The government plans to disinvest 7.64% stake, or over 3.74 crore shares, of NFL through Offer For Sale (OFS) route in the domestic market. 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.
