PFC slumps 2% despite strong response to OFS

According to data available from the NSE, the PFC OFS for 5 percent equity dilution was over-subscribed by 1.8-times

Power Finance Corporation (PFC) is trading on a slippery note a day after its OFS (Offer For Sale) received a strong response.

According to data available from the NSE, the PFC OFS for 5 percent equity dilution was over-subscribed by 1.8-times.

The stock so far this morning has touched a low of Rs. 245, and is now down 2.3 percent at Rs. 248. The counter has seen trades of around 792,000 shares as against the two-week daily average volume of around 140,000 shares on the BSE.

Meanwhile, the Sensex is up 109 points at 27,592.