Date:08/02/2007 URL: http://www.thehindubusinessline.com/2007/02/08/stories/2007020805541600.htm

Back PFC sets IPO price at Rs 85

Our Bureau

New Delhi, Feb 7

Power Finance Corporation (PFC) has set its initial public offering price at Rs 85 per share, a company official said. The lending firm's IPO, which closed on Tuesday, was subscribed 77.24 times.

Post issue, the Government's stake in the company will fall by 10.22 per cent. It currently owns 100 per cent of the company, which lends money to fund power projects in the country.