Power Finance Board approves raising up to ₹80,000 crore through bonds in FY24

In its meeting on March 21, 2023, the Board of Power Finance Corporation approved borrowing up to 80,000 crore for FY 2023-24 as follows: Long-term domestic borrowing 40,000 crores; Long Term Foreign Currency Borrowings/Rupee Denominated Foreign Currency Borrowings through ECB – 20,000 crores; short term loan 10,000 crores; and commercial paper – 10,000 crores.

“In pursuance of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is notified that the Board of Directors of Power Finance Corporation Limited (PFC) at its meeting to be held on 23.03.2023 inter-alia, for the financial year consider the proposal relating to declaration of fourth interim dividend, if any, for the year 2022-23. Accordingly, 01.04.2023 shall be the “Record Date” for the purpose of ascertaining the eligibility of the shareholders for payment of the said interim dividend, if So declared by the Board,” Power Finance said in a stock exchange filing.

Power Finance Corporation (PFC) shares closed today on NSE 154.05 each level, up 2.12% from its previous close 150.85. The stock recorded a total volume of 70,56,148 shares as compared to 20-day average volume of 80,06,355 shares. The stock gained 32.29% and is up 2.91% on YTD basis in 2023 so far. Stock touched 52-week high At 170.60 (09-Mar-2023) and at 52-week low on 97.10 (20-Jun-2022). During Q3FY23, the company registered promoter shareholding of 55.99%, FII holding of 16.85%, DII holding of 17.87% and public holding of 9.26%.