PFC Announces Basis Of FPO Allotment

TODAY (26-05-11) EVENING U WILL GET CREDIT POWER FINANCE FPO IN YOUR DP ACCOUNT

Power Finance Corporation Ltd. said its Follow-on Public Offer or FPO, had received 2,58,497 valid banking application for 22,95,53,340 equity shares of the resulting in 4.31 times subscription.

The basis of allotment and allocation, as finalized in consultation with the National Stock Exchange, being the 'Designated Stock Exchange', and approved by the company's Board is summarized below:

The Employees portion was subscribed 0.87 times. The total number of equity shares allotted in the 'Employee Reservation Portion' was 2,40,016. The under subscribed portion of 35,448 equity shares has been spilled over to QIB, Retail and Non Institutional category in the ratio of 50:35:15.

The Retail portion was subscribed 1.97 times. Overall, 2,54,907 applications for 15,73,62,324 equity shares were found valid and were considered for allotment on a proportionate basis. The number of shares allotted in this category was 8,02,88,364 (including a spill-over of 41,,107 equity shares from the Employee and Non Institutional Investor category) to 2,49,334 applicants.

The 'Non-Institutional Portion' was subscribed to the extent of 1.08 times. Overall, 176 applications for 3,43,27,300 equity shares were found valid and were allotted. The under portion of 64,382 equity shares has been spilled over to Retail and QIB category in the ratio of 35:50.

The 'QIB Portion' was subscribed to the extent of 6.92 times. Overall, 155 applications for 79,25,68,812 equity shares were found Valid and the quantum of Equity Shares Allotted in this category was 11,46,97,660 (including a spill-over of 58,723 equity shares from the employee and Non Institutional Investor category).

PFC shares at the BSE are being traded at Rs.201.95, up by 0.32 per cent from the previous close.