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).
Objects of the Issue: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; and2. General corporate purposes.
»» Issue Open: May 10, 2011 - May 13, 2011
5% Discount for Retail Bidders and Eligible Employees
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.
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Issue Subscription Detail / Current Bidding Status
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Power Finance FPO Messages (Power Finance FPO Comments)
Highest traded counter on NSE with major breakout.
PFC will touch 300 by September 2011 provided that NIFTY touches 6000 or sensex 20000.
15% crash in 5 days!!!
pfc @ 176
In last 3 days market has fallen by 2.5%,whereas PFC fell about 10%.
PFC is going to be a very good investment option from one year perspective.
Auction rate is decided as highest traded rate within settlement period (T+2), that is why it is said, one's pain is going to be broker's delight.
If you want a reason why you should be long term on PFC , see this :
It is not always necessary to play the IPO game for first day
PFC is nicely consolidating at 200 levels. ready to take off in 1 or 2 days. My target is 210-215. Cheers!!!!
Mr kumar:: sorry to say you that you have bought shares to compensate your shortsell is futile. Both transactions are independently registered by broker. But just don't panic and watchout for payin instructions and follow it instantly. If not, auction will not be executed, till then. If the market rate increases you will be prone to further losses unnecessarily. It appears that share rate may not run away, still it is advisable to payin as instructed by broker. Initially payin will be asked as MR plus 50% extra, but you will get balance debited to your acount once auction happens. Take care that your bank balance is as much as required on above lines. Don't loose slip over it, there is no penalty as such if you make payin instantly.
Hold on... this will be back to 210+ levels...
1193. n kumar
Time to take some rest after having sleepless nights. PFC story ends here, superb tralior but bad bad movie, just like Akshay Kumar's past 5 movies.
Kumar, you should have number of shares shorted in sharekhan dp by 30th. Since next 2 days do not have settlements cos of saturday and sunday, you will get shares you bought today in dp as earliest by monday night and in higher chances by tuesday morning which means you will be late for providing shares. Instead of buying you should have contacted sharekhan for sorting out. Since its FPO and most people sell in advance thus you see most auctions I'm sure sharekhan would also not able to help you. If it was a case of default in margins or bad buying/selling (bought 100 and sold 110 or vice versa by mistake) sharekhan might have helped you but it's highly impossible your dealer might be having pfc shares. So your buying today was futile and did not helped in cause. Sorry.
Yes there will be double brokerage payable. As I told if your broker is not able to arrange shares he'll go for auction. He won't pay charges from his pocket. And he'll definitely charge twice as once he sold for you and once he arranged shares by amount payable by you so exhange transfer shares to person who has bought shares that day from you. You are forgetting simple reason of auction. When there is a seller there is a buyer too hence to reconcile shares defaulted your beoker buys shares on your behalf at a penalised rate, exchange transfers it to party who suffered from your neglegence. I stated clearly if you are able to arrange shares you can save brokerage but have to pay auction price but if you couldn't, you'' pay double charges.