The government will sell 20 percent of its stake in National Fertilizers Ltd (NFL) through an offer for sale and has invited bids from merchant bankers for managing the share sale.
The deadline for submitting the bids is March 2, the Department of Investment and Public Asset Management (DIPAM) said in a notification.
At the current market price, selling 20 percent stake can fetch about Rs 400 crore to the exchequer. Shares of NFL closed at Rs 41.80, up 2.33 percent over the previous close on the BSE.
The government holds 74.71 percent stake in the company.
During 2020-21 (April-September) the company reported a net profit of 198 crore. NFL, which was incorporated in 1974 and has 3,339 regular employees, currently has five gas based Ammonia-Urea plants.