Power Finance Corp Ltd to invest Rs 1k cr through CPSU IPO

New Delhi, Aug 20 (UNI) Power Finance Corporation Ltd today said the Board of Directors of the company has granted approval to earmark Rs 1,000 crore for making investments through IPO of Central Power Sector Undertaking (CPSU).

The number of shares to he applied, exit/sale decision with respect to above will be taken by Committee of Directors constituted for this purpose by the Board, the company confirmed it to Bombay Stock Exchange today.

The in-principal approval was granted for being one of the promoters of the joint venture company for development of Power Exchange along with NTPC, NHPC und NCDEX.

The final investment decision will be made by the Board depending upoh the analysis of detailed project report.

It was granted for formation of an Advisory Company to facilities accelerated investment in the power sector through equity participation from domestic and global investors for private power projects.

UNI