Journalism of Courage
Premium
This is an archive article published on November 7, 2010
PFC disinvestment may be on the block
The issue will comprise divestment of five per cent stake held by the Centre.
1 min read
The Power Ministry is mulling yet another big ticket follow-on offer of Power Finance Corporation to raise around Rs 6,300 crore by this fiscal end,even as the Finance Ministry has retained disinvestment target at Rs 40,000 crore this fiscal.
The issue will comprise divestment of five per cent stake held by the Centre along with 10 per cent issuance of fresh equity.
“It is being discussed…,” Power Secretary P Uma Shankar said,adding that fresh equity may be 10 per cent with five per cent government stake sale.
Story continues below this ad
He added that the ministry is optimistic about bringing it (FPO) by the end of the current fiscal. “The proposal is on …we hope to bring the offer by end of this (financial)year.”
The power secretary’s comments came amid speculations that the FPO of PFC may be deferred to next fiscal.
Advertisement
Live Blog
PHOTOS
Top Stories
Advertisement
Must Read
SportsTemba Bavuma: South Africa's Iron Man with a giant heart, undefeated and unbroken, leads from the front at Eden Gardens for famous win
SportsWorld Boxing Cup Finals: Preeti Pawar makes winning return, armed with sharp counterattacks and improved defensive movements
TechnologyHow screenless wearables like Whoop and Oura ring are making discreet fitness tracking popular
Advertisement
Buzzing Now
TrendingDelhi woman gives air purifier a ‘spa day’ after it turns black from pollution; viral video alarms netizens: ‘So harmful to stay indoors’
Trending‘Swiggy dad’ goes viral for teaching daughter between deliveries; inspires the Internet: ‘Real life hero’
TrendingAkon ‘harassed’ on stage in Bengaluru, viral video shows fans pulling singer’s pants during concert: ‘India has no respect for any artist’
- 01
- 02
- 03
- 04
- 05
Advertisement