OMIFCO to list 25% stake on Muscat Stock Exchange in July

The Oman India Fertiliser Company (OMIFCO) announced plans for an initial public offering, intending to list a 25 percent stake on the Muscat Stock Exchange. The announcement was made this week, with the subscription period expected to commence this month and trading anticipated to begin in July, pending final regulatory approvals.

The offering will consist entirely of existing ordinary shares sold by the company’s current shareholders, which include Oman’s state energy firm OQ with a 50 percent stake, and the Indian cooperatives Indian Farmers Fertiliser Cooperative (IFFCO) and Krishak Bharati Cooperative (KRIBHCO), each holding 25 percent. All proceeds from the share sale will go to these selling shareholders, with OMIFCO itself receiving no funds from the transaction.

Company executives described the move as a significant milestone aimed at enhancing corporate governance, transparency, and alignment with public market standards. The joint venture, established in 1998, operates a major fertiliser production complex in Sur Industrial City, Oman. The facility includes two ammonia plants and two urea plants with an annual production capacity of approximately 1.15 million metric...