Power Finance sets 193-203 rupees/share band: Secretary
Power Finance Corporation Ltd has set a price band of 193-203 rupees a share for its equity offering, Power Secretary P Umashankar said.
By PTI | Updated:
MUMBAI: India's state-run Power Finance Corporation Ltd has set a price band of 193-203 rupees ($4.3-$4.5) a share for its equity offering, Power Secretary P. Umashankar said, in a share sale that could be the largest issue this year.
The offering opens on Tuesday and will close on May 12 for institutional investors and a day later for retail bidders.
Power Finance, a lender to power projects, plans to sell 15 percent in fresh equity shares while the Indian government will divest 5 percent stake in the firm, the company has said in its prospectus filed with the regulators.
The offering opens on Tuesday and will close on May 12 for institutional investors and a day later for retail bidders.
Power Finance, a lender to power projects, plans to sell 15 percent in fresh equity shares while the Indian government will divest 5 percent stake in the firm, the company has said in its prospectus filed with the regulators.
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