National Fertilizers OFS oversubscribed
DSIJ Intelligence / 27 Jul 2017
National Fertilizer Limited’s offer for sale issue has got subscribed by 1.11 times as of 1445 hours on Thursday. Today is the last day for subscription by retail investors.
National Fertilizer Limited’s offer for sale issue has got subscribed by 1.11 times as of 1445 hours on Thursday. Today is the last day for subscription by retail investors.
The portion reserved for institutional investors in the OFS issue got oversubscribed in Wednesday’s trade.
The government has decided to sell 15% of its stake in the state-run fertiliser company at a floor price of Rs 72.80 per share, which was at 7.67% discount to Tuesday’s closing price of Rs 78.85 per share.
On Wednesday, the offer was open only for institutional investors. Retail investors could put in their bids on Thursday. The government owns 89.71% stake in NFL. The sale of 7.35 crore shares or 15% stake would fetch about Rs 530 crore to the exchequer.
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