Madras Fertilizers Limited

About Us

mfl was incorporated on? December 8, 1966 as a joint venture between goi and amoco india incorporated of u. S. A amoco in accordance with the fertilizer formation agreement executed on 14. 5. 1966 with equity contributions of 51% and 49% respectively. In accordance with the participation agreement between goi, amoco and national iranian oil company (nioc), an undertaking of government of iran, nioc acquired 50% of the shareholding of amoco in mfl on 22. 11. 1972. With this acquisition, shareholding of amoco and nioc were at 24. 5% each, with the balance 51% being held by goi. Subsequently, on 22. 7. 1985, the shareholding of amoco was proportionately purchased by goi and nioc. As a result, goi and nioc shareholding was revised to 67. 55% and 32. 45% respectively. Subsequent to the issue of rights shares in 1994 for part-financing the project, the holding of goi and nioc stood at 69. 78% and 30. 22% respectively. Mfl had an initial public offering of its shares in may 1997.