Rashtriya Chemicals and Fertilizers board clears ₹1500cr FPO, approvals pending
Business
Rashtriya Chemicals and Fertilizers (RCF), a government-owned company, is looking to raise up to ₹1,500 crore by selling new shares through a follow-on public offer (FPO).
The board gave the green light on Tuesday, but the plan still needs approval from shareholders and key government departments before it moves ahead.
RCF makes fertilizers and industrial chemicals
RCF isn't just any fertilizer company: it runs two big plants in Mumbai and Raigad, making everything from urea and complex fertilizers to bio-fertilizers and micronutrients.
They also produce water-soluble fertilizers and industrial chemicals that help both farmers and industries across India.