Power Finance to list on February 23

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Power Finance Corporation, PFC, a leading power sector public financial institution, will list on the bourses with 1,14,77,66,700 shares on February 23, 2007.

The offer price was fixed at Rs 85 per share. Its BSE ID is 532810 and NSE ID is PFC.

In the F&O segment, the permitted lot size for PFC would be 2400 shares.

Its issue had received good response from investors as the issue oversubscribed 77.24 times.

The company entered capital market with an initial public offer, IPO of 117,316,700 equity shares of Rs 10 each to the public, through a 100% book building process.

The objects of the issue were to augment the company's capital base to meet the future capital requirements arising out of growth in the company's assets. 

Enam Financial Consultants, ICICI Securities and Kotak Mahindra Capital Company were the book running lead managers to the issue and Karvy Computershare was the registrar to the issue.