Nalini Shastri Vanjani (left), PFC executive director (finance), and Rajeev Sharma, director (projects), in Calcutta on Wednesday. Picture by Kishor Roy Chowdhury

Calcutta, May 11: Power Finance Corporation (PFC) will transfer its Rs 3,300-crore loan book for funding renewable projects to recently set up subsidiary PFC Green Energy Ltd.

Rajeev Sharma, director (projects), said, “Though we have been funding renewable power projects for long, we set up the subsidiary to exclusively focus on renewal projects as at the parent company level our focus is on big power projects and renewable projects are generally small ones.”

PFC has a loan book of Rs 3,300 crore pertaining to renewable projects. “The entire loan portfolio will be transferred to PFC Green Energy Ltd,” said Nalini Shastri Vanjani, executive director (finance) of PFC.

The PFC management is conducting roadshows for its second public issue of 22.9 crore shares through which the company aims to mop up Rs 4,648.70 crore. The float comprises the sale of 5.74 crore shares by the government and issue of 17.22 crore fresh equity by the company.

The price band of the book-building issue has been fixed at Rs 193-203 per share. Retail investors will get a discount of 5 per cent on the offer price.