RCFL’s offer for sale oversubscribed

The government shareholding in RCFL after this offer for sale (OFS) will come down to 75 percent

GN Bureau | July 3, 2017


#PSU   #RCFL   #offer for sale   #miniratna  

 The retail portion of Rashtriya Chemicals & Fertilizers Ltd (RCFL), a Miniratna category one CPSE, offer for sale (OFS) got an overwhelming response from retail investors.

Against the 20 percent portion amounting to Rs 40.96 crore reserved for retail investors, the total bids of Rs 237.28 crore has been received, thus the retail portion got oversubscribed approximately by 5.62 times, a PIB release said.
 
Overall, RCFL OFS for 5 percent divestment for equity shares of 27,584,405 amounting to Rs 204.81 crore at the floor price of Rs 74.25 per share, received a total demand for 7,82,00,420 equity shares amounting to Rs 587.9 crore. Therefore, the OFS of RCFL over-subscribed by 2.83 times.
 
This is the second CPSE OFS in the current financial year, and the government is likely to get Rs 203 crore. The government shareholding in RCFL after this OFS will come down to 75 percent.
 

Comments

 

Other News

Air Pollution: What needs to be done to tame the silent killer

Air pollution in Delhi has been in headlines, as every year in recent times. Mumbai too has suffered from air pollution, despite being a coastal city. Apart from many other metros such as Bangalore and Kolkata, tier-I and -II cities and rural areas also have high pollution levels. Every year reports and st

Free food grains for 81.35 cr beneficiaries for five years

The central government will provide free food grains to about 81.35 crore beneficiaries under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) for a period of five years with effect from January 1, 2024, the cabinet decided on Wednesday. Terming it as a “historic decision”, a

“I wrote ‘Survival at Stake’ to provide food for thought about solutions”

Survival at Stake: How Our Treatment of Animals Is Key to Human Existence By Poorva Joshipura HarperCollins, 328 pages, Rs 499 With science now recognising animal consciousness, intelligence, emotion, and even morality, there must rise an awareness of

‘Bon Voyage’ through the Arctic: Exploring new horizons for India

India`s tryst with trade through the Arctic regions, including the Northern Sea Routes (NSR), has become an impact-making endeavor recently. The Arctic of yore is now a pivot – point of geopolitics, of climate change discussions, and for economic opportunities; 40% of oil and gas reserves said to be

Demystifying Contemporary Finance Theory and other lessons in investment

Investing Decoded: Simple Path To Building A Portfolio In Millions By Anirudh Rathore Penguin India, 320 pages, Rs 499

Deepfake: India to prepare four-point action plan

Deepfake has emerged as a serious threat to democracy and social institutions across the world. Propagation of deepfake content via social media platforms has aggravated this challenge. Ministry of Electronics and Information Technology (MeitY) has, from time to time, advised social media in

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter