Power Finance Corporation is exploring opportunities for a formal entry into banking services. The company will be appointing a consultant to study the feasibility of foraying into banking services and would decide on a plan based on the report. Also, the company is yet to get 'clearances' from the Ministry of Power for making equity investments in both private and public sector power projects.
PFC announced its FPO to raise funds to the tune of Rs 4,700 crore at the upper end of the band and Rs 4,400 crore at the lower end of the price band. The price band is fixed between Rs 193 and Rs 203 per equity share. The FPO, which opens on May 11 and close on May 13, comprises fresh issue of 17.21 crore equities. The government holds about 89 per cent stake in PFC, after divesting 10 per cent through an initial public offering in March 2007.crackcrack
Company Name | CMP |
---|---|
Power Finance Corp | 509.80 |
REC | 532.45 |
Indian Railway Finance | 174.75 |
Satin Creditcare | 242.45 |
MAS Financial Serv | 311.10 |
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