The Central Government on Thursday cleared the proposal for 7.64 per cent stake sale in National Fertilisers Ltd. (NFL), which is expected to fetch around Rs.125 crore to the exchequer.
“The CCEA has approved disinvestment of NFL though the offer for sale (OFS) route,” sources said.
The government plans to disinvest 7.64 per cent stake, or over 3.74 crore shares of NFL in the domestic market.
At the current market price of Rs.33.90 apiece, the 7.64 per cent stake sale could fetch over Rs.125 crore to the exchequer.
At present, the government holds 97.64 per cent stake in NFL. The paid-up equity capital of the company, as on March 31, 2012, was Rs.490.58 crore.