Govt to sell 20% in NFL, 10% in RCF via offer for sale
The Department of Investment and Public Asset Management (DIPAM) has invited bids from merchant bankers by May 5 for managing the proposed share sales.
The government will sell up to 20 per cent stake in National Fertilizers Ltd (NFL) and 10 per cent in Rashtriya Chemicals and Fertilizers (RCF) through an offer for sale in the current fiscal.
The Department of Investment and Public Asset Management (DIPAM) has invited bids from merchant bankers by May 5 for managing the proposed share sales.
The government holds 74.71 per cent in NFL and 75 per cent in RCF.
Barbeque-Nation raises ₹202 crore from 15 anchor investors - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Shares of Tata Communications, earlier state-owned VSNL, were down 7 per cent at Rs 1,206 on the BSE in intra-day trade on Tuesday as offer for sale (OFS) to divest the government holding in the company opened today for institutional investors. The government will sell its 10 per cent stake, with an option to sell an additional 6.12 per cent stake in Tata Communications. As of December 31, 2020, the government held a 26.12 per cent stake in telecom alternative carriers company through the President of India, the shareholding pattern data shows. The floor price has been set at Rs 1,161, and the sale of 16.12 per cent stake could fetch the government around Rs 5,334 crore. The offer would open for retail investors on Wednesday.
Jhunjhunwala’s investment in Nazara Tech rises to ₹432 crore
March 14, 2021
Rakesh Jhunjhunwala, stock-market investor - PAUL NORONHA×
India’s Warren Buffett had invested about ₹180 crore in the Mumbai-based diversified gaming and sports media platform in 2018 Big bull Rakesh Jhunjhunwala’s investment in Nazara Technologies Ltd is pegged at about ₹432 crore as the gaming and sports media platform hits the market with a ₹583-crore Initial Public Offering on Wednesday.
This is based on the upper price band of ₹1,101 a share as Jhunjhunwala holds 32.94 lakh shares or 10.82 per cent in the company. While the entire IPO is an Offer For Sale (OFS) only issue, and there will not be any fresh offering by Nazara Technologies, the ace investor is not diluting any stake.
Government will sell a 16.12% stake in Tata Communications through an offer-for-sale. The remaining shares will be sold to Tata Sons Pvt.’s investment arm Panatone Finvest