PFC rallies 5% on opening of tax-free bonds issue

(PFC) has rallied 5% to Rs 138 on reports that the state-owned company will launch medium- to long-term in the first week of January to raise around Rs 5,000 crore.

The infrastructure finance company’s tax-free bonds issue, which opens today, is offering 8.30% on 15-year and 8.20% on 10-year bonds. The issue will remain open for subscription till January 16. PFC aims to raise Rs 4,033 crore after having already raised Rs 967 crore through private placement, the report suggests.

Half of the total issuance will be allotted to institutional investors, while a quarter will be issued to high net-worth individuals and the remainder to retail investors, the report added.

The stock opened at Rs 133 and touched a high of Rs 139.30 on the National Stock Exchange. A combined around two million shares have changed hands on the counter so far on both the exchanges.

image
Business Standard
177 22
Business Standard

PFC rallies 5% on opening of tax-free bonds issue

SI Reporter  |  Mumbai 



(PFC) has rallied 5% to Rs 138 on reports that the state-owned company will launch medium- to long-term in the first week of January to raise around Rs 5,000 crore.

The infrastructure finance company’s tax-free bonds issue, which opens today, is offering 8.30% on 15-year and 8.20% on 10-year bonds. The issue will remain open for subscription till January 16. PFC aims to raise Rs 4,033 crore after having already raised Rs 967 crore through private placement, the report suggests.

Half of the total issuance will be allotted to institutional investors, while a quarter will be issued to high net-worth individuals and the remainder to retail investors, the report added.

The stock opened at Rs 133 and touched a high of Rs 139.30 on the National Stock Exchange. A combined around two million shares have changed hands on the counter so far on both the exchanges.

RECOMMENDED FOR YOU

PFC rallies 5% on opening of tax-free bonds issue

Power Finance Corporation (PFC) has rallied 5% to Rs 138 on reports that the state-owned company will launch medium- to long-term infrastructure bonds in the first week of January to raise around Rs 5,000 crore.

(PFC) has rallied 5% to Rs 138 on reports that the state-owned company will launch medium- to long-term in the first week of January to raise around Rs 5,000 crore.

The infrastructure finance company’s tax-free bonds issue, which opens today, is offering 8.30% on 15-year and 8.20% on 10-year bonds. The issue will remain open for subscription till January 16. PFC aims to raise Rs 4,033 crore after having already raised Rs 967 crore through private placement, the report suggests.

Half of the total issuance will be allotted to institutional investors, while a quarter will be issued to high net-worth individuals and the remainder to retail investors, the report added.

The stock opened at Rs 133 and touched a high of Rs 139.30 on the National Stock Exchange. A combined around two million shares have changed hands on the counter so far on both the exchanges.

image
Business Standard
177 22

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

More News

  • A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (pic: Reuters) Welspun India records sharpest weekly fall; stock tanks 52%
  • Deutsche Bank cuts Sensex target to 28,000 Markets end lower on caution ahead of Yellen speech

STOCK WATCH

Company Price() Chg(%)
Trident 56.00 12.45
VST Inds. 2296.20 10.12
GRUH Finance 345.20 9.33
J B Chem & Pharm 336.60 7.90
Century Textiles 709.85 5.92
> More on BSE Gainers
Company Price() Chg(%)
Trident 56.45 13.13
Future Lifestyle 137.65 10.92
GRUH Finance 346.05 9.46
VST Inds. 2284.90 9.22
J B Chem & Pharm 336.50 7.71
> More on NSE Gainers
Company Price() Chg(%)
Welspun India 49.70 -8.64
Shilpa Medicare 553.00 -7.82
Piramal Enterp. 1851.10 -5.41
Jaypee Infratec. 9.21 -4.76
Avanti Feeds 534.10 -4.20
> More on BSE Gainers
Company Price() Chg(%)
Welspun India 49.40 -8.60
Shilpa Medicare 551.70 -7.87
IDBI Bank 70.45 -6.38
Jaypee Infratec. 9.10 -5.70
Piramal Enterp. 1847.10 -5.48
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard