Rashtriya Chemicals and Fertilizers to raise ₹1,500 crore in FPO

The state-owned chemical maker's board approved the equity raise, signaling a push to fund expansion amid a broader wave of Indian corporate capital raises.

By Handelsavisen Newsroom · Automated 2026-07-08 04:18 UTC · 1 min read

Rashtriya Chemicals and Fertilizers Ltd. (RCF) has approved a Further Public Offering (FPO) of fresh equity shares to raise up to ₹1,500 crore.

The state-owned enterprise's board also sanctioned amendments to its Memorandum of Association to facilitate the issuance, pending final regulatory approvals.

The move positions RCF among a growing list of Indian companies tapping equity markets to fund growth.

The capital raise follows a trend of increased fundraising activity in the sector, with peers such as TANFAC Industries recently completing a Qualified Institutional Placement (QIP) of approximately ₹25 billion to finance capacity expansion.

Meanwhile, Ratnadeep Retail Ltd. has filed draft prospectus documents for an initial public offering aimed at raising ₹400 crore.

For investors, the FPO represents a significant dilution event that will test market appetite for PSU chemical stocks.