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Govt approves over 7% stake sale in National Fertilizers

By Religare

The Cabinet Committee on Economic Affairs (CCEA) has cleared stake sale of 7.64 per cent or 37.4 million share proposal in state-run National Fertilizers Ltd. (NFL), as per the media reports.

The proposed stake sale in the company is expected to fetch the exchequer with Rs 130 crore, the report added.

At present, the government holds 97.64 per cent stake in NFL and hence, it is required to divest some of its stake to make it compliant with Sebi norms. According to the norms of market regulator, a public sector listed company should have 10 per cent public float by August 08, 2013.

Read more about: national fertilizers
Story first published: Friday, June 28, 2013, 22:56 [IST]
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