RCF OFS oversubscribed by 213.88%
Rashtriya Chemicals & Fertilizers’ (RCF) offer-for-sale has been subscribed 213.88% till 1530 on Thursday, as per the data available with BSE.
In line with its decision to divest from PSUs, the government had announced the sale of over 2.75 crore equity shares in Rashtriya Chemicals and Fertilizers (RCF) for about Rs 200 crore on Thursday.
At present, the government’s stake in RCF stands at 80%. It will offload 5% through the Offer for Sale (OFS) route. The floor price shall be Rs 74.25 per equity share. The shares will be sold through a separate, designated window of the stock exchanges on June 29-30.
Non-retail investors can place their bids on June 29, whereas retail investors and non-retail investors can place them on the following day.
Retail investors will be allocated offer shares at a discounted price, which is at a discount of 5% to the cut-off price. 20% of the offer size will be reserved for retail investors, reported a leading news agency.
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Via:: Stock – India Infoline