National Fertilizers Limited (NFL) OFS over-subscribed by 1.41 times; Retail portion got oversubscribed approximately 1.66 times while Non Retail portion oversubscribed by 1.35 times; Government likely to get Rs 535 crore approximately and its shareholding in NFL after this OFS to come down to 74.71%.

National Fertilizers Limited (NFL) OFS over-subscribed by 1.41 times;
Retail portion got oversubscribed approximately 1.66 times while Non Retail portion oversubscribed by 1.35 times; Government likely to get Rs 535 crore approximately and its shareholding in NFL after this OFS to come down to 74.71%.

The Retail Portion of the National Fertilizers Ltd (NFL) OFS has been oversubscribed by the retail investors. Against the 20% portion amounting to Rs. 107.14 crore reserved for retail investors, the total bids of Rs.178.67 crore has been received, thus the Retail Portion got oversubscribed approximately by 1.66 times.

The Non Retail portion of the OFS opened on 26th July, 2017. Total subscription of Rs. 578.8 crore has been received against shares for value of Rs. 428.57 crore at floor price and thus oversubscribed by 1.35 times.

Overall, NFL OFS for 15% divestment for equity shares of 73586760 amounting to Rs. 535.71 crore at the floor price Rs. 72.80 per share, received a total demand for equity shares amounting to Rs. 757.45 crore. Therefore, the OFS of NFL was over-subscribed by 1.41 times.

This is the 3rd CPSE OFS in the current financial year, and the Government is likely to get Rs. 535 crore approximately. The Government shareholding in NFL after this OFS will come down to 74.71%.