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RCF Share Sale Gets Oversubscribed By Institutional Buyers

RCF Share Sale Gets Oversubscribed By Institutional Buyers
New Delhi: The government's 5 per cent stake sale in fertiliser PSU RCF got off to a smooth start today, with institutional investors lapping up shares reserved for them within the first hour of trade. Of its total holding of 80 per cent in Rashtriya Chemicals and Fertilisers (RCF), the government is selling 5 per cent, or over 2.75 crore shares, at a floor price of Rs 74.25. The floor price is at a discount of over 7 per cent over...
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