Govt to sell 20% in National Fertilizers Ltd, 10% in RCF via offer for sale

ASHA accused the ministry of chemicals and fertilizers of acting at the cost of the right to life of agricultural workers and farmers (Photo: Mint)Premium
ASHA accused the ministry of chemicals and fertilizers of acting at the cost of the right to life of agricultural workers and farmers (Photo: Mint)
 1 min read . Updated: 14 Apr 2021, 05:05 PM IST PTI

NEW DELHI : The government will sell up to 20 per cent stake in National Fertilizers Ltd (NFL) and 10 per cent in Rashtriya Chemicals and Fertilizers (RCF) through an offer for sale in the current fiscal.

The Department of Investment and Public Asset Management (DIPAM) has invited bids from merchant bankers by May 5 for managing the proposed share sales.

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The government holds 74.71 per cent in NFL and 75 per cent in RCF.

NFL had reported a profit after tax of ₹198 crore for 2020-21 fiscal and has a net worth of ₹2,117 crore as on September, 2020.

RCF's profit after tax for 2019-20 fiscal stood at ₹208.15 crore and net worth at ₹3,186.27 crore as on March 2020.

At the prevailing market prices, sale of 20 per cent stake in NFL would fetch about ₹500 crore, while 10 per cent in RCF would garner around ₹400 crore to the exchequer.

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