Efforts to bring PFC FPO this fiscal

NEW DELHI: The Power Ministry today said all efforts were being made to bring the 20 per cent follow-on-public ( FPO) offer of state-run Power Finance Corporation in the current financial year.

"We are trying ( PFC FPO this fiscal)," Power Secretary P Uma Shankar told reporters.

The FPO comprises 15 per cent fresh equity and 5 per cent disinvestment of the government's stake in the state-run firm.

"Our's and the company's proposal is 15 per cent fresh equity and 5 per cent disinvestment," Shankar said.

Government at present holds 89.78 per cent stake in PFC. Centre divested 10 per cent stake in the company through an initial public offer in 2007.

Engaged in funding power generation, transmission and distribution projects across the country, PFC also plans to use funds from the FPO to meet present funding requirements as well as future lending activities.