National Fertilizers gains as Govt to divest stake

National Fertilizers (NFL) rose 1.83% to Rs 55.75 after the government invited bids to appoint merchant bankers and selling brokers to divest 20% stake in the fertilizer company.

The Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India has intimated regarding issue of request for proposals (RFP) for engagement of legal advisors, merchant bankers and selling brokers for the disinvestment of 20% paid up equity capital in NFL out of Government of India's shareholding through the "offer for sale by promoters through the stock exchanges" method in the domestic market.

As of 31 March 2021, the Government of India held 74.71% stake in NFL.

NFL's consolidated net profit tanked 50.6% to Rs 52.89 crore on a 22.4% decline in net sales to Rs 2,938.69 crore in Q3 FY21 over Q3 FY20.

NFL is engaged in producing and marketing urea, neem coated urea, bio-fertilizers (solid and liquid) and other allied industrial products.

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