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Power Finance FPO is a book built issue of Rs 4,578.20 crores.
Power Finance FPO bidding started from May 10, 2011 and ended on May 13, 2011. The shares got listed on BSE, NSE on May 27, 2011.
Power Finance FPO price band is set at ₹193 to ₹203 per share. The minimum lot size for an application is 28 Shares. The minimum amount of investment required by retail investors is ₹5,684.
Bofa Securities India Limited, Goldman Sachs (India) Securities Private Limited, ICICI Securities Limited and Jm Financial Limited are the book running lead managers of the Power Finance FPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Power Finance FPO RHP for detailed information.
| IPO Date | May 10, 2011 to May 13, 2011 |
| Listing Date | May 27, 2011 |
| Face Value | ₹10 per share |
| Price Band | ₹193 to ₹203 per share |
| Lot Size | 28 Shares |
| Total Issue Size | 229,553,340 shares (aggregating up to ₹4,578.20 Cr) |
| Issue Type | Book Built Issue FPO |
| Listing At | BSE, NSE |
Power Finance FPO offers 229,553,340 shares. 114,638,937 (49.94%) to QIB, 34,391,682 (14.98%) to NII, 80,247,257 (34.96%) to RII, 275,464 (0.12%) to employees. 2,865,973 RIIs will receive minimum 28 shares and (sNII) and (bNII) will receive minimum 1,008 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 114,638,937 (49.94%) | NA |
| NII (HNI) Shares Offered | 34,391,682 (14.98%) | |
| Retail Shares Offered | 80,247,257 (34.96%) | 2,865,973 |
| Employee Shares Offered | 275,464 (0.12%) | NA |
| Total Shares Offered | 229,553,340 (100%) |
Investors can bid for a minimum of 28 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 28 | ₹5,684 |
| Retail (Max) | 35 | 980 | ₹198,940 |
| Lot Size Calculator | |||
Incorporated in 1986 by Government of India, Power Finance Corporation ltd is India based Financial Institution (Non Banking Financial Company) providing funding to Power Sector projects. The company has status of Nav-Ratna PSU by Government of India.
PFC provides large range of Financial Products and Services including Project Term Loan, Lease Financing, Direct Discounting of Bills, Short Term Loan, Consultancy Services etc. for various Power projects in Generation, Transmission, and Distribution sector as well as for Renovation & Modernization of existing power projects.
PFC went public on Friday, February 23, 2007 by selling its 10.22% shares through PFC IPO. Company is currently listed in BSE (Scrip Code: 532810) and NSE (Symbol: PFC).
| Particulars | For the year/period ended (in Rs. Million) | ||
| 31-Dec-10 | 31-Mar-10 | 31-Mar-09 | |
| Total Income | 74,870.43 | 81,265.75 | 65,897.25 |
| Profit After Tax (PAT) | 19,470.18 | 22,500.89 | 14,695.99 |
The objects of the issue are:
1. Augment capital base to ensure compliance with requisite capital adequacy norms and to meet future capital requirements arising out of growth in business; and
2. General corporate purposes.
The Power Finance FPO is subscribed 4.34 times on May 13, 2011 8:00:00 PM. The public issue subscribed 2.00 times in the retail category, 6.92 times in the QIB category, and 1.20 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 6.92 |
| NII | 1.20 |
| Retail | 2.00 |
| Employee | 0.91 |
| Total | 4.34 |
The promoter of PFC, Government of India, has offered 5% discount to retail investors and eligible employees in PFC FPO shares. The PFC FPO discount will be applicable on the price fixed for PFC shares through this FPO.
| Listing Date | May 27, 2011 |
| BSE Script Code | 532810 |
| NSE Symbol | PFC |
| ISIN | INE134E01011 |
| Final Issue Price | ₹203 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹203.00 |
| ₹197.60 |
| ₹191.40 |
| ₹200.70 |
| ₹199.45 |
| NSE |
|---|
| ₹203.00 |
| ₹196.00 |
| ₹191.50 |
| ₹200.70 |
| ₹199.50 |
Power Finance Corporation Ltd
'Urjanidhi', 1, Barakhamba Lane,
Connaught Place,
New Delhi 110 001, India
Phone: +91 (11) 2345 6000
Email: fpo@pfcindia.com
Website: http://www.pfcindia.com
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
Power Finance FPO is a main-board FPO of 229,553,340 equity shares of the face value of ₹10 aggregating up to ₹4,578.20 Crores. The issue is priced at ₹193 to ₹203 per share. The minimum order quantity is 28 Shares.
The FPO opens on May 10, 2011, and closes on May 13, 2011.
Kfin Technologies Limited is the registrar for the FPO. The shares are proposed to be listed on BSE, NSE.
The Power Finance FPO opens on May 10, 2011 and closes on May 13, 2011.
Power Finance FPO lot size is 28 Shares, and the minimum amount required is ₹5,684.
You can apply in Power Finance FPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Power Finance FPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Power Finance FPO allotment status.
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RHP
Bank of America-Merrill Lynch has resumed coverage on Power Finance Corp with a 'buy' and has set a target price of 260 rupees post follow-on offering on better earnings as structurally power financing remains a focused priority for the government. "PFC's valuations remain very attractive and the stock is trading at 15-25 percent discount to its peers Rural Electrification Corp, IDFC despite better risk-profile," the Wall-Street Bank said in a note. It also expects PFC to report a net profit growth of 24 percent in FY12/13 citing loan growth and improving margins.