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Cabinet approves stake sale in Rashtriya Chemicals

The move is part of the govt’s plan to raise Rs.30,000 crore by selling part of its holding in state-run companies
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First Published: Wed, Dec 26 2012. 02 54 PM IST
The government, which owns 92.5% of Rashtriya Chemicals & Fertilizers, had earlier indicated it may sell 12.5% stake in the company.
The government, which owns 92.5% of Rashtriya Chemicals & Fertilizers, had earlier indicated it may sell 12.5% stake in the company.
New Delhi: The Union cabinet approved selling a further stake in state-run Rashtriya Chemicals & Fertilizers Ltd, a minister said on Wednesday.
The move is part of the government’s plan to raise Rs.30,000 crore ($5.46 billion) by selling part of its holding in state-run companies in the current fiscal year that ends in March.
The minister, who declined to be named, did not specify the quantum of stake to be sold in the fertiliser maker.
The government, which owns 92.5% of Rashtriya Chemicals & Fertilizers, had earlier indicated it may sell 12.5% stake in the company.
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First Published: Wed, Dec 26 2012. 02 54 PM IST
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