Govt plans to sell 20 per cent stake in National Fertilizers Ltd
Centre plans to sell 20 per cent stake in National Fertilizers Ltd (NFL) by means of ‘supply on the market’. The Department of Investment and Public Asset Management (DIPAM) has invited tenders from legislation companies with expertise and experience in public choices and OFS in capital markets to act as authorized advisers and help the federal government in the method. It has additionally sought tenders from service provider bankers for the sale course of.
“The GoI intends to disinvest 20 per cent paid up equity capital of NFL out of its shareholding of 74.71%, through ‘Offer for Sale’ (OFS) method of shares by promoters through the stock exchanges’ as per Securities and Exchange Board of India (SEBI) Rule and Regulations,” mentioned a notification by the division.
Further, the Centre can also be contemplating allotting shares to eligible and keen staff of NFL at a reduction on the problem or found value — lowest minimize off value — up to a most of sure share of the OFS measurement subsequent to completion of the transaction underneath OFS. The share and extent shall be determined in due course.
The deadline for submission of bids for each authorized adviser and service provider banker for the OFS ends at 3 p.m. on March 2.
Incorporated on August 23, 1974, National Fertilizers is a Mini Ratna firm with an authorised capital of Rs 1,000 crore and a paid-up capital of Rs 490.58 crore out of which Government of India (GoI) holds 74.71 per cent shares and 25.29 per cent shares are held by monetary establishments and others.
The firm employed 3,339 common staff as on March 31, 2020.
It has 5 gas-based ammonia-urea vegetation — Nangal and Bathinda vegetation in Punjab, Panipat plant in Haryana and two vegetation at Vijaipur (District Guna), in Madhya Pradesh.
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