The
Cabinet Committee on Economic Affairs (CCEA) today approved the disinvestment
of 7.64 percent paid up equity capital of the National Fertilizers Limited
(NFL) that is approximately 3.74 crore shares, each of Face Value of Rs. 10/-.
The disinvestment will be out of Government of India‘s (GOI`s) shareholding of
97.64 percent, as per the Securities and Exchanges Board of India (SEBI) rules
and regulations in order to make the NFL compliant to public share holding
requirements under the Securities Contracts (Regulation) Rules (SCRR). The paid
up equity capital of the company as on 31.03.2012 is Rs. 490.58 crore that is
approximately 49.05 crore equity shares, each of Face Value of Rs. 10/-.
NFL
is a Scheduled `A` Mini Ratna Central Public Sector Enterprises (CPSE) under
the administrative control of the Ministry of Chemicals and Fertilizers, and is
engaged in manufacturing and marketing of urea, 16 industrial products and three
types of bio-fertilizers from its five operating units. These are one each at
Nangal and Bhatinda in Punjab, Panipat in Haryana and two units at Vijaipur in
Madhya Pradesh.
Background:
The Company has been making a foray into diverse agri-based businesses. It has one Joint Venture namely Uravarak Videsh Ltd. with M/s RCF and M/s KRIBHCO with equity participation of 33.33 percent to explore investment opportunities abroad and within country in Nitrogenous, Phosphatic and Potassic sectors. It also renders consultancy services for setting up projects in India and abroad.
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