Power Finance Corporation FPO

non banking financial-institutionPower Finance Corporation FPO will tend to be launched very soon, PFC to increase nearly Rs 6,300 cr by this financial end, at the same time the financial ministry has maintained disinvestment goal at Rs 40,000 cr this fiscal. The issue will consist of divestment of 5percent stake kept through the Centre along with 10percent issuance of new equity.

It’s being reviewed. P Uma Shankar power secretary mentioned, that new equity may be 10 percent with 5 percent govt stake sale.

He added that the ministry is positive about getting it (FPO) towards the end of the present fiscal. The idea is on…we wish to get the offer by close of this financial-yr.

The govt presently keeps 89.78 percent stake in the public sector firm. It previously had divested 10percent stake via an IPO in 2007. Following the planned disinvestment it may drop around 85 percent.

Power Finance Corporation is a non banking financial-institution that offers fiscal loans for a number of power projects in transmission, generation, distribution sector and for renovation and modernization (R&M) of present power projects.

More news update come later……………..

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