Rashtriya Chemicals & Fertilizers Ltd (RCF) issue has been subscribed over 1.3 times. The Government will receive approximately Rs. 310 crores from the sale proceeds. The Issue was subscribed by all categories of Investors including retail investors.
The divestment was carried out to make the Company compliant to the mandatory public shareholding requirements under the SCRR regulations.
Earlier, the Government had approved divestment of 12.5% of paid-up equity of the Rashtriya Chemicls & Fertilizers Ltd (RCF) out of the Government of India™s shareholding of 92.5 per cent vide OFS route through Stock Exchange Mechanism.