State-run Power Finance Corporation's (PFC) follow on public offer (FPO) opened for subscription on Tuesday, the government's first divestment programme for FY12. The price band for the share sale is Rs 193-203 per share.
The government will divest its 5% stake to raise 15% fresh equity via the issue. Currently, it holds about 89% stake in PFC, after diluting 10% through an initial public offering (IPO) in March 2007.
Commenting on the impact of recent RBI rate hikes, Satnam Singh, chairman and managing director of PFC said, there would be no major impact on margins going forward.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
