RCF OFS oversubscribed by 790.58%
Rashtriya Chemicals & Fertilizers’ (RCF) offer-for-sale has been subscribed 790.58% till 1530 on Friday, 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 could place their bids on Thursday, whereas retail investors and non-retail investors could place their bids on Friday.
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