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Reports: Indian government to sell 12.5% stake in RCF

9:20 AM MST | March 6, 2013 | Francinia Protti-Alvarez

The Indian government has fixed 8 March 2013 as the date when it will divest a 12.5% stake in Rashtriya Chemicals & Fertilisers (RCF; Mumbai) through an offer for sale (OFS) mechanism. The government currently owns 92.5% of RCF, which will come down to 80% after the OFS. The OFS is expected to raise more than 3 billion rupees ($54.6 million) for the government, at the current share price of Rs44.55, reports from the Economic Times and Wall Street Journal say. The sale is part of the government's plan to raise a total of Rs300 billion via the sale of stakes in...

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