The retail portion of Rashtriya Chemicals & Fertilizers Ltd (RCFL) OFS got thumbs-up from retail investors. Against the 20% portion amounting to Rs 40.96 cr reserved for retail investors, the total bids of Rs 237.28 crore has been received, thus the retail portion got oversubscribed approximately by 5.62 times. 

The Non Retail portion of the OFS opened on 29th June, 2017. Total subscription of Rs 350.62 crore has been received against shares for value of Rs 163.85 crore at floor price and oversubscribed by 2.14 times. 

Overall, RCFL OFS for 5% divestment for equity shares of 27,584,405 amounting to Rs 204.81 crore at the floor price of Rs.74.25 per share, received a total demand for 7,82,00,420 equity shares amounting to Rs 587.9 crore. Therefore, the OFS of RCFL over-subscribed by 2.83 times. 

This is the 2nd CPSE OFS in the current financial year, and Government is likely to get Rs 203 crore approximately. The Government shareholding in RCFL after this OFS will come down to 75%. 
 

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