The FPO of Power Finance Corporation Limited (PFC) has received a good response from the investors with the final day subscription figure reached to 4.34 times on an overall basis. Power Finance Corporation FPO is open on 10th May 2011 and will get closed on 13th May 2011 for subscription. The IPO has managed to get a little bit better response from Qualified Institutional Buyers (QIBs) Category where it overbid by 6.92 times on the 3rd day of subscription. The price band for the issue is Rs 193 at lower level and Rs 203 at upper level. State-owned Power Finance Corporation Limited (PFC) is entering into primary market with Rs 4,659.93 crore follow-on public offering (FPO).
The category-wise subscription status of IPO on closing of final day is given below:-
Qualified Institutional Buyers (QIBs) : 6.92 times
Non Institutional Investors : 1.20 times
Retail Individual Investors : 2.00 times
Employee Reservations : 0.91 times
Overall : 4.34 times
The Government of India is offering 5% discount to retail investors and eligible employees in this PFC FPO.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The Book Running Lead Managers (BRLM) to the offer are DSP Merrill Lynch Limited, Goldman Sachs (India) Securities Private Limited, ICICI Securities Limited and JM Financial Consultants Private Limited.
Registrar of the Issue : Karvy Computershare Private Limited, Hyderabad.
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