Power Finance Corp files prospectus with SEBI

Mumbai, June 5: The state-owned Power Finance Corporation has filed its Draft Red Herring Prospectus with Securities and Exchange Board of India (SEBI) to enter the capital markets with an initial public offering of its equity shares today.

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, said a PFC press release here.

The offer comprises a fresh issue of up to 103,045,000 equity shares and an offer for sale of up to 51,522,500 equity shares by the Government of India. The issue would constitute approximately 13.64 per cent of the post-issue fully diluted equity share capital of PFC.

PFC has proposed to reserve up to 2,576,125 equity shares for allotment to its employees and the net issue to public is 151,991,375 equity shares.

UNI