Tata Chemicals, Indo-Gulf, Chambal Fertilisers and Oswal Chemicals and Fertilisers are among the players which have submitted expression of interests in acquiring the government's 51 per cent stake in National Fertilisers on the last date of submission of the EOI.

NFL with a turnover of Rs 2,943 crore (Rs 29.43 billion) is the second largest producer of urea in India and has a government holding of close to 98 per cent of the paid-up capital.

As a part of its divestment, the government intends to sell 51 per cent equity in NFL along with transfer of management through a strategic sale. Rabo has been appointed as the advisors for the sale.

National Fertiliser has been on the block for sometime and is the most lucrative fertiliser company with plants and market share in the high urea consuming states such as Madhya Pradesh, Punjab and Haryana.

National Fertiliser is the only fertiliser company with plants in all these three key states.

While the K K Birla's Chambal Fertilisers has two plants in Rajasthan, Indo Gulf, Oswal Fertilisers and Tata Chemicals have a plant each in Uttar Pradesh.

Buying NFL would give them manufacturing bases in three states and help save on additional freight cost.

NFL has two plants in Punjab (Bhatinda, Nangal). One plant in Haryana (Panipat) and two plants in Madhya Pradesh (Vijaipur I & II).

The government had re-invited the EOIs following change in the financial position and the prospective business and operating environment of NFL.

The strategic partner, if selected will have to  make a public offer to acquire further shares of NFL in accordance to the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.