POWER FIN CORP Share price

Our Company was incorporated on July 16 1986 under the Companies Act as a public limited company with the ROC Delhi and Haryana and received our certificate for commencement of business on December 31 1987. The GoI incorporated our Company as a financial institution in order to finance facilitate and promote power sector development in India with the President of India holding 100% of our equity share capital.Changes in registered officeAt the time of incorporation the registered office of our Company was situated at Room No. 627 Shram Shakti Bhawan Rafi Marg New Delhi 110 001 India. However the registered office of our Company shifted to Chandralok 36 Janpath New Delhi 110 001 India on March 25 1988.Major events Year Event1986 Incorporation of our Company.1987 Certificate of commencement of business received.1988 Commencement of lending activities. Evolved broad operational policies identifying priority areas for providing financial assistance and formulated short term medium term and long-term strategies for operations.1989 Provided first guarantee to M/s Mitsui and Company Japan for payment of principal for Rupees equivalent to Japanese Yen 27.39 billion for supplier credit made available to UPSEB for the 1000 MW Anpara B Thermal Power Project.1990 Declared as a public financial institution under section 4A of Companies Act.1991 Conferred with a license to deal in foreign exchange in the power sector.1992 Project on Energy Management Consultation and Training (EMCAT) made operational with the objective to bring about improvement in the efficiency of the energy supply component of the power sector with the help of USAID.1993 First MoU with GoI in relation to operational targets and rated excellent on the basis of all round performance.1994 Company declared maiden dividend to the GoI.1996 Started funding private power projects.1998 Registered as a NBFC. Declared a Mini Ratna (Category I). Promoted PTC Limited as joint venture with NTPC and PGCIL.1999 Launched consultancy services in order to provide consultancy services to both state owned and private power utilities for the power and financial sectors.2003 Appointed by the MoP as a nodal agency to fund the India Power Fund scheme to catalyze the process of fresh equity investment in the power sector.2004 Project appraisal system certified as ISO 9001.2005 Entered into MoU with LIC and ten leading public sector banks for consortium financing of power projects.2006 Set up five subsidiary companies for developing UMPPs. Our disbursement crossed Rs. 100000 million.