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Govt To Sell 7.64% In National Fertilizer On 31 Jul

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The government will sell a 7.64 per cent stake in state-run National Fertilizers on Wednesday through a share auction, disinvestment secretary Ravi Mathur told reporters. 
 
The sale is part of the government's efforts to raise Rs 400,00 through stake sales in the current fiscal year. So far this year it has only raised about $140 million. The government currently owns 97.64 per cent in the fertilizer company. 
 
At the current market price, the stake sale would raise about $17 million. Ahead of the offer, shares in National Fertilizer were trading 8.4 per cent lower at Rs 27. 
 
(Reuters)