Power Finance Corporation Ltd.

Power Finance Corporation (PFC) is planning to raise around Rs 3,876 crore through tax- free bonds by end of FY14. In this regard, the state-run lending agency has filed draft documents with market regulator Securities and Exchange Board of India (SEBI).

Moreover, the company will use the issue proceed towards general lending operations of the company and other associated business objectives and to discharge existing debt obligations.

ICICI Securities, A K Capital Services, Axis Capital and Edelweiss Financial Services are book running lead managers to the issue.

The company has already received approval from Ministry of Finance to raise the bonds aggregating to Rs 5,000 crore in fiscal 2014 out of it has raised an amount of Rs 1,124.10 crore on a private placement basis.