July 25, 2015 3:31:29 am
The Centre will sell five per cent of its equity in state-owned Power Finance Corporation (PFC) on July 27, which would help raise about Rs 1,700 crore.
“The President of India, acting through and represented by the Ministry of Power, Government of India is the promoter of Power Finance Corporation Ltd has submitted to BSE a copy of Notice of Offer for Sale up to 6,60,02,035 equity shares…representing five per cent,” the company said .
At present, the government holds 72.80 per cent equity in PFC. Post disinvestment, its stake will reduce to 67.8 per cent.
Best of Express Premium
🗞 Subscribe Now: Get Express Premium to access our in-depth reporting, explainers and opinions 🗞️
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.