December 9, 2010 12:50 PM

printer

Power Finance Corp., to disinvest 20% fresh equity

The Power Ministry today said all efforts are being made to bring the 20 per cent follow-on-public (FPO) offer of state-run Power Finance Corporation, PFC, in the current financial year. Power Secretary P Uma Shankar told this to reporters on the side lines of a function in New Delhi. The FPO comprises 15 per cent fresh equity and 5 per cent disinvestment of the government's stake in the state-run firm. Government at present holds 89.78 per cent stake in PFC. Centre divested 10 per cent stake in the company through an initial public offer in 2007.He conceded that ministry may not be able to achieve power capacity addition for the 11th plan period due to delay in Hydro Power projects. The government had earlier planned to add 78,000 MW of power capacity by the end of the 11th plan, which the Planning Commission had scaled down to 62,000 MW.

Most Read
View All arrow-right

No posts found.