Power Finance Corp 5 percent stake on sale

NEW DELHI: The central government has set a floor price at Rs 254 per equity share for divestment of 5 per cent of its stake in Power Finance Corp (PFC) on Monday.

“The floor price of the offer shall be Rs 254 per equity share of Power Finance Corporation (PFC),” the company said in a stock exchange filing.

The government holds 72.80 per cent equity in the company, while the stake sale is expected to garner around Rs 1,600 crore.

The floor price of Rs 254 is at a discount of 2.14 per cent over Friday’s closing price of the stock at Rs 259.55.

PFC would be the second such sale this fiscal by the government after divesting stock in REC in April.

 

 

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