Power Finance Corporation (PFC) to come up with a Follow-on Public Offer (FPO) - Indian IPO Blog

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Thursday, December 23, 2010

Power Finance Corporation (PFC) to come up with a Follow-on Public Offer (FPO)

Power Finance Corporation (PFC) is planning to come up with a Follow-on Public Offer (FPO), which is expected to hit the markets soon. The issue will comprise divestment of 5% stake held by the Centre along with 15% issuance of fresh equity. The decision on the FPO will be taken, taking into consideration the market situation and its favour-ability

Currently, the Government of India holds a 89.78% stake in the company. It had divested a 10% stake through an Initial Public Offer (IPO) in 2007

PFC is a non-banking financial institution that provides loans for various power projects in generation, transmission, distribution sector as well as for renovation & modernisation (R&M) of existing power projects

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