RCF plans to raise Rs 1,500 crore via FPO

New Delhi: India's leading fertiliser firm and a public sector enterprise, Rashtriya Chemicals and Fertilisers (RCF) on Tuesday said it plans to raise up to Rs 1,500 crore through follow-on public offer (FPO).

In a regulatory filing, the company said the Board has approved the raising of funds by way of a "Further Public Offering through a fresh issue of equity shares by the company aggregating up to Rs 1,500 crore".

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The decision is subject to the receipt of the approval of the shareholders of the company, the Department of Fertilisers, and the Department of Investment and Public Asset Management (DIPAM).

Rashtriya Chemicals and Fertilisers Ltd is one of the leading fertiliser companies in the country. It has two operating units, one in Trombay, Mumbai, and the other in Thal, Raigad district.

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RCF manufactures urea, complex fertilisers, bio-fertilisers, micro-nutrients, 100 percent water-soluble fertilisers, soil conditioners and a wide range of industrial chemicals.

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