The government has offloaded 7.64% stake in National Fertilizers (NFL) through the offer for sale (OFS) route to raise about Rs 100 crore. The 3.75 million share offering subscribed 1.56 times garnering 5.84 million bids. Most bids came around the floor price which was fixed at Rs 27 per share. Over 80% of the bids came from institutional investors.
IDBI Capital Markets has acted as merchant banker for the share sale. The centre had to divest its stake in NFL before August 8 to comply with the minimum public shareholding (MPS) requirement.
The government is targeting to raise Rs 40,000 crore through disinvestment during 2013-14. So far it has sold raised Rs 800 crore by selling shares in Hindustan Copper and MMTC.
Company Name | CMP |
---|---|
Coromandel Interntl. | 1209.45 |
National Fertilizers | 104.13 |
Chambal Fert & Chem | 424.20 |
RCF | 150.70 |
Paradeep Phosphates | 69.86 |
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