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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 ₹203.00 per share . The lot size for an application is 28. The minimum amount of investment required by an retail is ₹5,404 (28 shares). 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.
| IPO Date | May 10, 2011 to May 13, 2011 |
| Listing Date | May 27, 2011 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹193 to ₹203 per share |
| Issue Price Final | ₹203 per share |
| Lot Size | 28 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 22,95,53,340 shares (aggregating up to ₹4,578.20 Cr) |
| Fresh Issue | 17,21,65,005 shares (aggregating up to ₹3,433.65 Cr) |
| Offer for Sale | 5,73,88,335 shares of ₹10 (aggregating up to ₹1,144.55 Cr) |
| Retail Discount | Rs 10.15 per share |
| Employee Discount | ₹10.15 |
| Issue Type | Bookbuilding FPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 1,03,04,50,000 shares |
| Share Holding Post Issue | 1,14,77,66,700 shares |
Power Finance FPO offers total 22,95,53,340 shares. Out of which 11,46,38,937 (49.94%) allocated to QIB, 3,43,91,682 (14.98%) allocated to NII, 8,02,47,257 (34.96%) allocated to RII.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 11,46,38,937 (49.94%) | NA |
| NII (HNI) Shares Offered | 3,43,91,682 (14.98%) | NA |
| Retail Shares Offered | 8,02,47,257 (34.96%) | 28,65,973 |
| Employee Shares Offered | 2,75,464 (0.12%) | NA |
| Total Shares Offered | 22,95,53,340 (100.00%) |
| 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 |
PFC FPO opens on May 10, 2011, and closes on May 13, 2011.
| IPO Open Date | Tue, May 10, 2011 |
| IPO Close Date | Fri, May 13, 2011 |
| Tentative Listing Date | Fri, May 27, 2011 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, May 13, 2011 |
Investors can bid for a minimum of 28 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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).
| Particulars | For the year/period ended (in Rs. Million) | ||
| 31-Dec-10 | 31-Mar-10 | 31-Mar-09 | |
| Total Income | 74,870.43 | 81,265.75 | 65,897.25 |
| Profit After Tax (PAT) | 19,470.18 | 22,500.89 | 14,695.99 |
| KPI | Values |
|---|---|
| RoNW | 13.06% |
The Company Power Finance FPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 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 |
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.
| Listing Date | May 27, 2011 |
| BSE Script Code | 532810 |
| NSE Symbol | PFC |
| ISIN | INE134E01011 |
| Final Issue Price | ₹203 per share |
| BSE Listing Group | A |
Power Finance Corp.Ltd.
'Urjanidhi', 1,
Barakhamba Lane,
Connaught Place,
New Delhi, New Delhi, 110001
Phone: +91 (11) 2345 6000
Email: fpo@pfcindia.com
Website: http://www.pfcindia.com
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
PFC FPO is a main-board FPO of 22,95,53,340 equity shares of the face value of ₹10 aggregating up to ₹4,578.20 Crores. The issue is priced at ₹203 per share. The minimum order quantity is 28.
The FPO opens on May 10, 2011, and closes on 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 May 10, 2011 and closes on 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 Friday, May 27, 2011.
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