Sep 26, 2012, 09.29 AM | Source: CNBC-TV18
Rashtriya Chemicals and Fertilizers (RCF) is the latest divestment candidate, with finance ministry proposing a 12.5% stake sale via the offer for sale (OFS) route.
The finance ministry is looking to raise nearly Rs 368 crore through the RCF stake sale. Last week, North Block had proposed a 9.5% divestment in NTPC to meet nearly half of the Rs 30,000 crore targeted divestment proceeds. The government will retain 80% stake in the company post the stake sale.
Sources say about 68.96 million RCF shares are likely to be put up for sale, spread out in tranches over time.
In a note floated for CCEA approval, the finance ministry has said an EGoM will have final say on the floor price for the RCF issue and also in how many tranches the stake sale will take place. Also, options other than OFS are open if market conditions warrant.
The RCF stock shot by over 3% on the back of the disinvestment news.
Rashtriya Chem stock price
On May 27, 2016, Rashtriya Chemicals and Fertilisers closed at Rs 43.05, down Rs 2.5, or 5.49 percent. The 52-week high of the share was Rs 61.40 and the 52-week low was Rs 35.25.
The company's trailing 12-month (TTM) EPS was at Rs 3.47 per share as per the quarter ended March 2016. The stock's price-to-earnings (P/E) ratio was 12.41. The latest book value of the company is Rs 52.61 per share. At current value, the price-to-book value of the company is 0.82.
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