Business Standard

Govt mulls 15% FPO in PFC

Image

Press Trust of India New Delhi

The government today said it is considering a 15 per cent follow-on-public offer of Power Finance Corporation (PFC), a proposal sent by the power ministry last week.

"The power ministry has sent a proposal for a 15 per cent fresh equity and five per cent disinvestment of government stake in PFC," Secretary Department of Disinvestment Sumit Bose told reporters here.

The company needs fund, that's why they have asked for a bigger share of fresh equity, Bose added.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 30 2010 | 1:33 PM IST

Explore News