Rashtriya Chemicals & Fertilizers Ltd announces Offer for Sale of Shares by Promoter & Floor Price

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 INR 10/- each, representing 5% of the total paid up equity share capital of the Company (the "Offer Shares"), on June 29, 2017 (for non-Retail Investors) and June 30, 2017 (for Retail Investors and for non-Retail Investors who choose to carry forward their bids).

The Floor Price for the Offer shall be INR 74.25 (INR Seventy Four Point Two Five Only) 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. The employees will be eligible to apply for shares upto Rs. 2 (Two) Lakh each only.

Shares of RASHTRIYA CHEMICALS & FERTILIZERS LTD. was last trading in BSE at Rs.79.9 as compared to the previous close of Rs. 77.55. The total number of shares traded during the day was 396573 in over 2184 trades.

The stock hit an intraday high of Rs. 80.5 and intraday low of 76.5. The net turnover during the day was Rs. 31240049.

Source : Equity Bulls

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