Government Set to Raise Rs 1,678 Cr From Power Finance Stake Sale

New Delhi: The government is set to raise about $260 million from sale of a 5 per cent stake in Power Finance Corp Ltd, after the share auction received bids for more than twice the number on offer. New Delhi was selling about 66 million shares in Power Finance as part of a target to raise as much as $11 billion from divestment of its stakes in state-run companies this fiscal year. The sale was subscribed more than 2.3 times, accor...