Press Information Bureau

Government of India

Cabinet Committee on Economic Affairs (CCEA)

26-December-2012 14:32 IST

The Cabinet Committee on Economic Affairs 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 & 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.

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SC/SM

Disinvestment of public equity approved for sale of a minority stake in a central fertilizer company under SEBI rules. Approval of disinvestment of 12.5 percent paid-up equity in Rashtriya Chemicals and Fertilizers Ltd. authorises sale of 6,89,61,012 equity shares from the Government's holding in the domestic market in accordance with SEBI Rules and Regulations, effecting a minority stake sale from the Government's 92.5 percent shareholding and subject to applicable securities market procedures.