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Indian government raises $17 million through sale of stake in National Fertilizers

11:19 PM MDT | July 31, 2013 | Natasha Alperowicz

The Indian government has raised about $17 million through the divestment of a 7.64% stake in National Fertilizers Ltd. (NFL; Noida, India), the country’s second largest producer of urea. The government held 97.64% stake in the company and the divestment is to comply with market regulator Sebi norms, which stipulate that a public sector listed company should have a minimum of 10% free float by 8 August 2013.   NFL has an installed urea capacity of 3.57 million m.t./year and trails IFFCO, India’s largest urea producer with capacity of 4.24 million...

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