New Delhi : Coal India Limited (CIL), plans to raise its equity investment in Talcher Fertlizers Limited, a joint venture of GAIL, CIL, RCF, FCIL, the company announced yesterday.
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Talcher Fertilizers’s main goal is to revive FCIL’s fertilizer unit by setting up a coal gasification-based fertilizer plant in Talcher, Odisha.
Currently, the paid-up equity shareholding in TFL is 33.333% for GAIL, CIL, and RCF, while FCIL holds 0.0002%. CIL’s upcoming acquisition will involve subscribing to 1,06,75,06,771 equity shares at a face value of Rs. 10 each, with cash payment.
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This equity investment is not seen as a related party transaction under SEBI LODR Regulations, 2015. The shares are being offered equally to all shareholders based on their existing holdings through a rights issue. The acquisition is expected to be finalized
