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Power Finance Corporation Ltd. FPO

State-owned Power Finance Corporation Limited (PFC) is entering into primary market with Rs 6,000 crore follow-on public offering (FPO). The company will issue 229,553,340 of Rs 10 each. The FPO is opening on 10th May 2011 and the shares will be available for subscription up to 13th May 2011. The premium of the issue will be decided through a 100% Book Building Process.

Incorporated in 1986 by Government of India, Power Finance Corporation ltd is India based Financial Institution (Non Banking Financial Company) providing funding to Power Sector projects. The company has status of Nav-Ratna PSU by Government of India.

The government approved follow-on public (FPO) offer of the state-run lending agency Power Finance Corporation worth about Rs 5,732 crore.

The exact amount to be raised through the offer can be ascertained only after the Empowered Group of Ministers (EGOM) decides the offer price. PFC provides large range of Financial Products and Services including Project Term Loan, Lease Financing, Direct Discounting of Bills, Short Term Loan, Consultancy Services etc. for various Power projects in Generation, Transmission, and Distribution sector as well as for Renovation & Modernization of existing power projects.

PFC plans to use the funds from the FPO to finance both existing loans, as well as future lending activities.

The government, which hopes to raise Rs 40,000 crore through its disinvestment programme in FY-12 will kickstart its disinvestment programme with Power Finance Corpís (PFC) public issue. The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The Book Running Lead Managers (BRLM)†to the offer are DSP Merrill Lynch Limited, Goldman Sachs (India) Securities Private Limited, ICICI Securities Limited and JM Financial Consultants Private Limited.

Registrar of the Issue :†Karvy Computershare Private Limited, Hyderabad.

Issue Detail:
Issue Open: May 10, 2011 - May 13, 2011
Issue Type: 100% Book Built Issue FPO
Issue Size: 229,553,340 Equity Shares of Rs. 10
Issue Size: Rs. 4,430.38 - 4,659.93 Crore†
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 193 - Rs. 203 Per Equity Share
Market Lot:
Minimum Order Quantity:
Listing At: BSE, NSE Nifty: 50 Shares

IPO Subscription Detail / IPO Oversubscription Details / IPO Bidding Status:

Number of Times Issue is Subscribed (BSE + NSE)
Date & Time
Non Institutional Investors (NIIs)
Retail Individual Investors (RIIs)
Employee Reservations
  Shares Offered / Reserved †114,638,937† †34,391,682† †80,247,257† †275,464† †229,553,340†
  †Day 1 - May 10, 2011 0.1700† 0.0000† 0.0200† 0.0000† 0.0900
  †Day 2 - May 11, 2011 0.3200† 0.0000† 0.1000† 0.0000† 0.2000
  †Day 3 - May 12, 2011 6.9200† 0.0100† 0.3400† 0.1500† 3.5800
  †Day 3 - May 13, 2011 6.9200 1.2000 2.0000 0.9100 4.3400



Power Finance Corporation Ltd FPO Allotment Status


Power Finance Corporation Ltd FPO Basis Of Allotment



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