PFC files DRHP for FPO: Sources

State-run financial institution dedicated to power sector financing Power Finance Corporation (PFC) has filed draft red herring prospectus (DRHP) with the SEBI, reports CNBC-TV18 quoting sources.

The company is going to issue 22.95 crore equity shares through follow-on public offer, which will lead to 17.39% equity dilution. The issue consists of a fresh issue of 17,21,65,005 equity shares (constituting 15% of the pre issue paid up capital) by the company and an offer for sale of 5,73,88,335 equity shares (constituting 5% of the pre issue paid up capital) by the President of India, acting through the Ministry of Power, Government of India. JM Financial, ICICI Securities, BoAML and Goldman Sachs are bankers to the FPO. At 10:59 hours today, the share was trading at Rs 225.70, down 1.98% on the BSE.