Friday, February 23, 2007

Power Finance debuts with 33% premium

Power Finance Corporation, PFC, a leading power sector public financial institution, has listed with premium of 33% over its offer price of Rs 85 per share. It's a good start for Power Finance Corporation, which is as per the analyst expectations, they were expecting the listing around Rs 105-115.

The share opened at Rs 113 on the NSE; it was quoting at Rs 110, with volumes of 2,61,85,806 shares, at 10:08 am. It has touched an intraday high of Rs 119.40 and an intraday low of Rs 105.55.

On the BSE, the share was quoting at Rs 108.5, with volumes of 9244134 shares, at 10:15 am. It opened at Rs 104 and touched an intraday high of Rs 117 and low of Rs 103.5.

In the F&O segment, the permitted lot size for PFC is of 2400 shares.

The company entered capital market with an initial public offer, IPO of 117,316,700 equity shares of Rs 10 each to the public, through a 100% book building process.

The objects of the issue were to augment the company's capital base to meet the future capital requirements arising out of growth in the company's assets.

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