PFC gains on getting nod to raise up to Rs 80,000 crore during FY24
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Power Finance Corporation is currently trading at Rs. 155.30, up by 1.15 points or 0.75% from its previous closing of Rs. 154.15 on the BSE.
The scrip opened at Rs. 154.95 and has touched a high and low of Rs. 155.40 and Rs. 153.50 respectively. So far 198735 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 170.55 on 09-Mar-2023 and a 52 week low of Rs. 97.15 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 160.00 and Rs. 149.60 respectively. The current market cap of the company is Rs. 40855.26 crore.
The promoters holding in the company stood at 55.99%, while Institutions and Non-Institutions held 34.74% and 9.27% respectively.
Power Finance Corporation (PFC) has received approval from board of directors to raise up to Rs 80,000 crore through various financial instruments. An amount of Rs 40,000 crore will be raised through long-term domestic borrowings, and another Rs 20,000 crore by way of long-term foreign currency borrowing. Besides, proposals have been approved for raising up to Rs 20,000 crore through short-term borrowings and commercial paper. The proposals approved are for raising fund during the financial year 2023-24.
PFC is central PSU under Ministry of Power and India's leading NBFC.
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