Govt. to offload 5% stake; Floor price is Rs 74.25 per equity share
Rashtriya Chemicals & Fertilizers announced that The President of India (acting through and represented by the Ministry of Chemicals & Fertilizers, Government of India) (the "Seller") announced its intention to sell up to 2,75,84,405 equity shares of the Company of face value of Rs 10/- each, representing 5% of the total paid up equity share capital of the Company (the "Offer Shares"), on 29 June 2017 (for non-Retail Investors) and 30 June 2017 (for Retail Investors and for non-Retail Investors who choose to carry forward their bids).The Floor Price for the Offer shall be Rs 74.25 per equity share of the Company.
Further upto 5% of the Offer shares (over and above the number of Offer Shares) could be offered to eligible and willing employees of the company at a discount of upto 5% of the Cut-off Price subsequent to completion of the Offer.
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