Bookbuilding FPO | ₹4,578 Cr | Listed at BSE, NSE | Tue, May 10, 2011 - Fri, May 13, 2011
PFC FPO is a book build issue of ₹4,578.20 crores. The issue is a combination of fresh issue of 17.22 crore shares aggregating to ₹3,433.65 crores and offer for sale of 5.74 crore shares aggregating to ₹1,144.55 crores.
PFC FPO bidding started from May 10, 2011 and ended on May 13, 2011. The shares got listed on BSE, NSE on May 27, 2011.
PFC FPO price band is set at ₹203 per share. The lot size for an application is 28. The minimum amount of investment required by an retail is ₹5,684 (28 shares) (based on upper price). The lot size investment for sNII is 36 lots (1,008 shares), amounting to ₹2,04,624, and for bNII, it is 176 lots (4,928 shares), amounting to ₹10,00,384.
The issue includes a reservation of up to 2,75,464 shares for employees offered at a discount of ₹10.15 to the issue price.
BOFA Securities India Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to PFC FPO RHP for detailed Information.
FPO Open
Tue, May 10, 2011
FPO Close
Fri, May 13, 2011
Issue Price
₹203 per share
Market Cap (Pre-IPO)
₹23,299.66 Cr
| IPO Date | 10 to 13 May, 2011 |
| Listed on | Fri, May 27, 2011 |
| Face Value | ₹10 per share |
| Price Band | ₹193 to ₹203 |
| Issue Price | ₹203 per share |
| Lot Size | 28 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding FPO |
| Listing At | BSE, NSE |
| Retail Discount | Rs 10.15 per share |
| Employee Discount | ₹10.15 |
| Total Issue Size | 22,95,53,340 shares (agg. up to ₹4,578 Cr) |
| Fresh Issue | 17,21,65,005 shares (agg. up to ₹3,434 Cr) |
| Offer for Sale | 5,73,88,335 shares of ₹10 (agg. up to ₹1,145 Cr) |
| Share Holding Pre Issue | 1,03,04,50,000 shares |
| Share Holding Post Issue | 1,14,77,66,700 shares |
| BSE Script Code / NSE Symbol | 532810 / PFC |
| ISIN | INE134E01011 |
PFC FPO comprises a total issue size of 22,95,53,340 shares. The net offer to the public is 22,92,77,876 shares, after excluding 2,75,464 shares under a preferential allotment. Of the Net offer 11,46,38,937 (50.00%) are allocated to QIB, 3,43,91,682 (15.00%) allocated to NII 8,02,47,257 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 11,46,38,937 | 50.00% | 49.94% | NA |
| NII (HNI) Shares Offered | 3,43,91,682 | 15.00% | 14.98% | NA |
| Retail Shares Offered | 8,02,47,257 | 35.00% | 34.96% | 28,65,973 |
| Preferential Reservations | ||||
| Employee Shares Offered | 2,75,464 | 0.12% | NA | |
| Total Shares Offered | 22,95,53,340 | 100.00% | 100.00% | |
Investors can bid for a minimum of 28 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 28 | ₹5,684 |
| Retail (Max) | 35 | 980 | ₹1,98,940 |
| S-HNI (Min) | 36 | 1,008 | ₹2,04,624 |
| S-HNI (Max) | 175 | 4,900 | ₹9,94,700 |
| B-HNI (Min) | 176 | 4,928 | ₹10,00,384 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 1986 by Government of India, Power Finance Corporation ltd is India based Financial Institution (Non Banking Financial Company) providing funding to Power Sector projects. The company has status of Nav-Ratna PSU by Government of India.
PFC provides large range of Financial Products and Services including Project Term Loan, Lease Financing, Direct Discounting of Bills, Short Term Loan, Consultancy Services etc. for various Power projects in Generation, Transmission, and Distribution sector as well as for Renovation & Modernization of existing power projects.
PFC went public on Friday, February 23, 2007 by selling its 10.22% shares through PFC IPO. Company is currently listed in BSE (Scrip Code: 532810) and NSE (Symbol: PFC).
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Augment our capital base to meet our future capital requirements arising out of growth in our business and for other general corporate purposes* | 964.67 |
| 2 | Estimated Issue expenses* | 32.52 |
| KPI | |
|---|---|
| RoNW | 13.06% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 89.78% | 73.72% |
| Market Cap | ₹23,299.66 Cr. |
The Power Finance FPO is subscribed 4.34 times on May 13, 2011 8:00:00 PM (Day 4). The public issue subscribed 2 times in the retail category, 6.92 times in the QIB category, and 1.2 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 6.92 | 11,46,38,937 | |
| NII | 1.2 | 3,43,91,682 | |
| Retail | 2 | 8,02,47,257 | |
| Employee | 0.91 | 2,75,464 | |
| Total | 4.34 | 22,95,53,340 |
The promoter of PFC, Government of India, has offered 5% discount to retail investors and eligible employees in PFC FPO shares. The PFC FPO discount will be applicable on the price fixed for PFC shares through this FPO.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLM fees | |
| 2 | Underwriting commission and selling commission | 6.64 |
| 3 | Registrar’s fees | |
| 4 | Publication of advertisements | 16.71 |
| 5 | Advisors | 1.10 |
| 6 | Bankers to the Issue | |
| 7 | Others (listing fees, tour expense etc.) | 5.31 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹203.00 | ₹203.00 |
| Open | ₹197.60 | ₹196.00 |
| Low | ₹191.40 | ₹191.50 |
| High | ₹200.70 | ₹200.70 |
| Last Trade | ₹199.45 | ₹199.50 |
Lead Manager Reports
PFC FPO is a main-board FPO of 22,95,53,340 equity shares of the face value of ₹10 aggregating up to ₹4,578 Crores. The issue is priced at ₹203 per share. The minimum order quantity is 28.
The FPO opens on Tue, May 10, 2011, and closes on Fri, May 13, 2011.
Kfin Technologies Ltd. is the registrar for the FPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in PFC FPO using UPI as a payment gateway. Zerodha customers can apply in PFC FPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in PFC FPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The PFC FPO opens on Tue, May 10, 2011 and closes on Fri, May 13, 2011.
PFC FPO lot size is 28, and the minimum amount required for application is ₹5,684.
You can apply in PFC FPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for PFC FPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the PFC FPO allotment status.
The PFC FPO listing date is on Fri, May 27, 2011.
