Retail portion got oversubscribed approximately 1.66 times while Non Retail portion oversubscribed by 1.35 times; Government likely to get ₹ 535 crore approximately and its shareholding in NFL after this OFS to come down to 74.71%.

The Retail Portion of the National Fertilizers Ltd (NFL) OFS has been oversubscribed by the retail investors. Against the 20% portion amounting to ₹ 107.14 crore reserved for retail investors, the total bids of ₹ 178.67 crore has been received, thus the Retail Portion got oversubscribed approximately by 1.66 times.

The Non Retail portion of the OFS opened on 26th July, 2017. Total subscription of ₹ 578.8 crore has been received against shares for value of ₹ 428.57 crore at floor price and thus oversubscribed by 1.35 times.

Overall, NFL OFS for 15% divestment for equity shares of 73586760 amounting to ₹ 535.71 crore at the floor price ₹ 72.80 per share, received a total demand for equity shares amounting to ₹ 757.45 crore. Therefore, the OFS of NFL was over-subscribed by 1.41 times.

This is the 3rd CPSE OFS in the current financial year, and the Government is likely to get ₹ 535 crore approximately. The Government shareholding in NFL after this OFS will come down to 74.71%.

Offer for Sale oversubscription results in reduced government shareholding in National Fertilizers Limited through divestment. An Offer for Sale of 15% equity in National Fertilizers Limited comprised retail and non-retail tranches that were both oversubscribed, yielding an overall oversubscription of approximately 1.41 times. Aggregate bids exceeded the floor-priced amount for the offered shares, and on completion the government's shareholding in NFL is reported to decline to 74.71% following the divestment.