Diabytes
PFC stake sale News
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Both REC and PFC are Central Public Sector Enterprises (CPSEs) under the Ministry of Power.
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With the successful sale of 6.60 crore shares in Power Finance Corp (PFC) through a one-day OFS route at a floor price of Rs 254 apiece, the government would get over Rs 1,600 crore.
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PFC is the second PSU to be divested in the current fiscal under the government's disinvestment programme.
Government is expected to mobilise around Rs 1,676 crore through the divestment.
Government will divest 5 percent of its stake in Power Finance Corporation on July 27 which may fetch around Rs 1,700 crore at current market price.
As many as 12 merchant bankers have bid for managing the stake sale of REC.
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