Sep 26, 2012, 09.29 AM IST | Source: CNBC-TV18

FinMin proposes 12.5% stake sale in RCF; eyes Rs 368cr

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.

FinMin proposes 12.5% stake sale in RCF; eyes Rs 368cr

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 April 23, 2014, Rashtriya Chemicals and Fertilisers closed at Rs 36.65, up Rs 0.85, or 2.37 percent. The 52-week high of the share was Rs 43.20 and the 52-week low was Rs 26.00.


The company's trailing 12-month (TTM) EPS was at Rs 3.90 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 9.4. The latest book value of the company is Rs 42.69 per share. At current value, the price-to-book value of the company is 0.86.

Set email alert for

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Narendra Modi

99374.06 2,015.63 2.07%

1110

Bought today

1282

Sold today

0.96%

User holding

video of the day

Add cyclicals, banks on positive poll outcome: UBS

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.