CCEA clears 7.64% NFL stake salehttps://indianexpress.com/article/news-archive/web/ccea-clears-7-64-nfl-stake-sale/

CCEA clears 7.64% NFL stake sale

The government today cleared the proposal for 7.64 per cent stake sale in National Fertilisers Ltd (NFL),which is expected to fetch around Rs 125 crore to the exchequer

The government today cleared the proposal for 7.64 per cent stake sale in National Fertilisers Ltd (NFL),which is expected to fetch around Rs 125 crore to the exchequer.

“The CCEA has approved disinvestment of NFL though the offer for sale (OFS) route,” sources said.

The government plans to disinvest 7.64 per cent stake,or over 3.74 crore shares of NFL in the domestic market.

At the current market price of Rs 33.90 apiece,the 7.64 per cent stake sale could fetch over Rs 125 crore to the exchequer. Currently,the government holds 97.64 per cent stake in NFL.

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Four merchant bankers IDBI Capital Market Services,Avendus Capital,SBI Cap and Kotak Investment Banking,were in fray for managing the stake sale programme of the company.