Power Finance Corporation (PFC) files draft prospectus with SEBI

On Monday, Power Finance Corporation (PFC) filed draft prospectus with SEBI for Initial Public Offering and divesting five per cent Government stake. PFC is offering an aggregate of up to 154,567,500 equity shares of Rs 10 each for cash at a price to be decided through the book building process.

The issue entails up to 103,045,000 equity shares and an offer for sale up to 51,522,500 equity shares by the Government. The issue would constitute approximately 13.64 per cent of the post issue fully diluted equity share capital of PFC. PFC has also proposed to reserve up to 2,576,125 equity shares for allotment to its employees. PFC has appointed Enam Financial Consultants Private Limited, ICICI Securities Ltd and Kotak Mahindra Capital Company Ltd as book running lead managers to the issue.

Source : Equity Bulls

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