The Oman India Fertiliser Company (OMIFCO), one of the Gulf region’s largest ammonia and urea producers and a strategic India-Oman joint venture, has entered a new phase of growth by becoming a publicly listed company on the Muscat Stock Exchange (MSX).
The landmark listing is being hailed as a significant milestone for Indian cooperatives IFFCO and KRIBHCO, which are key stakeholders in the company, as well as for the long-standing economic partnership between India and Oman. The company’s shares began trading on the MSX on July 8 following the successful completion of its initial public offering (IPO).
IFFCO Chairman Dileep Sanghani described the occasion as “a day of pride and achievement,” saying that OMIFCO’s transformation into a public limited company represents far more than a corporate milestone.
According to Sanghani, the public listing marks an important step towards stronger governance, greater transparency and sustainable long-term growth, while further enhancing the company’s global competitiveness. Sanghani also noted that with the listing, OMIFCO’s ownership has expanded beyond its founding partners to include the people of Oman and global investors.
The listing ceremony was attended by India’s Ambassador to Oman, Prashant Pise, OMIFCO Chief Executive Officer Dr Ahmed Al Marhoobi and several distinguished guests from India and Oman.
IFFCO Managing Director K J Patel said the public listing reflects the strength of the successful India-Oman partnership in the fertiliser sector. He observed that IFFCO is proud to have played a pivotal role in building OMIFCO into one of the Gulf’s largest and most respected ammonia and urea production facilities.
Together with KRIBHCO, Patel said, the cooperative has remained committed to ensuring a reliable supply of fertilisers while creating long-term value through international cooperation and sustainable growth.
Patel added that the listing showcases the growing global stature of Indian cooperatives and is expected to enhance investor confidence, strengthen corporate value and reinforce OMIFCO’s position as a leading global fertiliser company. He congratulated the people of Oman, the company’s partners, employees and all stakeholders on the achievement.
OMIFCO was established as a strategic initiative between the Governments of Oman and India and operates a world-class fertiliser complex at Sur Industrial City, producing ammonia and urea for domestic and international markets, particularly India. IFFCO and KRIBHCO together hold a significant stake in the venture, which has played a key role in supporting India’s fertiliser security for over two decades.
The IPO involved the sale of 25 per cent of OMIFCO’s share capital and attracted overwhelming investor interest. According to Oman’s Financial Services Authority, the offering generated subscription demand of RO 4.69 billion and was oversubscribed 18 times overall, underlining strong market confidence in the company’s future prospects.
