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State-owned fertiliser firm RCF on Tuesday said it plans to raise up to Rs 1,500 crore through follow-on public offer (FPO). In a regulatory filing, the company said the Board has approved the raising of funds by way of a "Further Public Offering through a fresh issue of equity shares by the company aggregating up to Rs 1,500 crore". The decision is subject to the receipt of the approval of the shareholders of the company, the Department of Fertilisers, and the Department of Investment and Public Asset Management (DIPAM). Rashtriya Chemicals and Fertilizers Ltd is one of the leading fertiliser companies in the country. It has two operating units, one in Trombay, Mumbai, and the other in Thal, Raigad district. RCF manufactures urea, complex fertilisers, bio-fertilisers, micro-nutrients, 100 per cent water-soluble fertilisers, soil conditioners and a wide range of industrial chemicals.
The Competition Commission of India has ordered a probe against state-run Rashtriya Chemicals and Fertilizers for allegedly compelling dealers and farmers to buy other products along with urea in Maharashtra. Acting on a complaint filed by an individual, the fair trade watchdog said the conduct of RCF appeared to contravene provisions of the Competition Act, including those relating to abuse of dominant position and anti-competitive agreements, according an order. The Competition Commission of India (CCI) has directed its investigation arm, the Director General, to probe the matter and submit a report within 60 days. It was clarified by CCI that the observations were preliminary and would not prejudice the outcome of the investigation. The complainant (individual) alleged that RCF, a 'Navratna' PSU and a leading fertiliser maker, was compelling dealers and farmers to buy non-subsidised products such as water-soluble fertilisers along with urea. The CCI noted that urea's maximum ret
The Rail Coach Factory (RCF) in Kapurthala in Punjab is aiming to roll out the first prototype of Vande Metro coach for intercity travel ?by April this year, its general manager S Srinivas has said. A total of 16 such coaches are expected to be ready by the later part of 2024-25 financial year, he said. Vande Metro, which is designed on the concept of India's first indigenous semi-high-speed train Vande Bharat, will cater to intercity passengers covering up to a distance of 250 km. A Vande Metro train will have 16 air-conditioned coaches and can run at a maximum speed of 130 km per hour. "This train is meant for intercity traffic," Srinivas told PTI, adding, "We are aiming that the first prototype is ready by April." Following trials, the RCF will start its production. Vande Metro trains will enhance passenger experience and accessibility, he said, adding each coach will have the capacity to carry 280 passengers -- 100 seating capacity and 180 standing capacity. The 3x3 bench-ty