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Power Finance Corp OFS over-subscribed

As per the data provided by the National Stock Exchange's (NSE) Nifty, the Offer for Sale (OFS) had a total issue size of 6,60,02,035 shares and it got a total subscription of 6,80,42,314, or 1.03 times as on 10.55 AM.

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The 5% shares that the government offered as part of its disinvestment drive in Power Finance Corporation have been fully subscribed. 

As per the data provided by the National Stock Exchange's (NSE) Nifty, the Offer for Sale (OFS) had a total issue size of 6,60,02,035 shares and it got a total subscription of 6,80,42,314, or 1.03 times as on 10.55 AM. 

This means that the OFS of Power Finance Corp (PFC) has been over-subscribed within 1.5 hours of the issue opening. 

The floor price of the issue was set at Rs 254 per share but the last trade price as per the NSE data was at Rs 258.80. 

The government aimed to rasie Rs 1700 crore from this disinvestment. 

The retail category remains under-subscribed with only 0.22 times offers till 11 am. 

Total shares offered in the retail category were 1,32,00,407 and total offers stood at 28,58,637 till the time this story was published. 

General category has been over-subscribed by 1.23 times thereby subscribing the total issue fully. 

The share price of PFC was trading at Rs 259.15 per share on the Nifty, down 0.15% and 0.13% down on the BSE's Sensex, at Rs 259.20 per share.

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