Government to receive 310 crore from RCF stake sale

NEW DELHI: The finance ministry has said the issue of Rashtriya Chemicals & Fertilizers Ltd (RCF) has been subscribed over 1.3 times and the government will receive about 310 crore from the stake sale.

"The Issue was subscribed by all categories of Investors, including retail investors. The divestment was carried out to make the company compliant to the mandatory public shareholding requirements under the SCRR regulations," the ministry said.

The government will now go ahead with the stake sale process in SAIL, NALCO, and MMTC. The auction for Nalco is expected on March 11, MMTC on March 12, and for SAIL on March 19.