Power Finance Corporation scrip trades at 107.15

Mumbai, Feb 23: Power Finance Corporation (PFC) was today for the first time trading at Rs 107.15 on the National Stock Exchange (NSE), a premium of 26 per cent, over the initial public offer (IPO) price of Rs 85, brokers said.

The stock debuted at Rs 113, hit a low of Rs 106 and a high of Rs 119.40. Volumes in the stock were abnormally high at 2.1 crore shares on NSE just in the first few minutes of trade.

The IPO had received a strong response from investors. It was subscribed 77.24 times, amidst heavy bidding by FIIs, and was priced at the upper end of the Rs 73-Rs 85 price band.

NSE has also included the stock in the futures&options segment.

The lot size of PFC in the derivatives segment is 2,400, sub-brokers added.

UNI