Power Finance Corporation (PFC) is floating an advisory company for leading global investors and Indian power companies, reports Economic Times.
PFC will hold 30% in the company while the balance 70% equity will be collectively held by power industry professionals. The advisory company will assess the credit-worthiness of power companies and negotiate with global investors for funding upcoming projects of these firms.
PFC has also decided to raise nearly Rs 159 billion in 2008-09 through private placement of bonds and other instruments.
Shares of the company gained Rs 33.95, or 22.51%, to end at Rs 184.75. The total volume of shares traded was 1,161,731 at the BSE. (Thursday)
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