The Government plans 10 percent stake sale in RCF, invites bids from merchant bankers. Interested merchant bankers and legal advisors will have to be submitted their bids by January 28 and January 29, respectively, the Department of Investment and Public Asset Management (DIPAM) said in a notice.
The government is planning to sell 10 percent stake in Rashtriya Chemical and Fertilizers Ltd (RCFL) and invited bids from merchant banker and legal firms for managing the share sale process.
The government holds 75 percent stake in RCFL and intends to disinvest 10 percent of the paid-up equity capital through an offer for sale (OFS). The merchant banker would be required to advise the government on the timing and the modalities of the OFS, ensure the best return from the government and assist in securing approval and exemptions, wherever necessary, from regulatory agencies. The government will select and appoint two merchant bankers for managing the share sale process.
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