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National News Sourced Wired

Cabinet approves stake sale in Rashtriya Chemicals

New Delhi, Dec 26 (ANI The Cabinet Committee on Economic Affairs (CCEA) today approved the disinvestment of 12.5 percent paid up equity capital of the Rashtriya Chemicals and Fertilizers Ltd.

That is 6,89,61,012 shares each of face value of Rs. 10/- each, out of Government of India’s shareholding of 92.5 percent, in the domestic market, as per SEBI Rules and Regulations.

The paid up equity capital of the company is Rs. 551.69 crore having 55,16,88,100 equity shares, each of face value Rs.10/.

Rashtriya Chemicals and Fertilizers Ltd. is a Schedule ‘A’ listed Mini-Ratna Central Public Sector Enterprise (CPSE) under the administrative control of the Ministry of Chemicals and Fertilizers, Department of Fertilizers.

It is engaged in the business of manufacturing and marketing fertilizers, industrial chemicals such as methanol, methylamines, ammonium bicarbonate, ammonium nitrate etc. from its two operating units at Trombay and Thal in Maharashtra and marketing of these products through its Zonal/ Regional Marketing/Area offices located in different States of the country.

The Company has one subsidiary, namely Rajasthan Rashtriya Chemicals and Fertilizers Ltd. and three joint ventures, with share holding ranging between 33.3 percent to 50 percent. (ANI)