PTC India Financial IPO opens for subscription
PTC India Financial Services, Indian non-banking financial institution promoted by PTC India, has opened its initial public offering of 15.67 crore equity shares for subscription today.
March 16, 2011 / 14:47 IST
PTC India Financial Services, Indian non-banking financial institution promoted by PTC India, has opened its initial public offering of 15.67 crore equity shares for subscription today. It has fixed a price band at Rs 26-28 a share.
The issue consists of a fresh issue of 12.75 crore equity shares by the company and an offer for sale of 2.92 crore equity shares by Macquarie India Holdings Limited. The issue will constitute 27.88% of the post issue paid-up capital of the company. PTC India Financial is an Indian non-banking financial institution promoted by PTC India to make principal investments in, and provide financing solutions for, companies with projects across the energy value chain. Company hopes to raise Rs 438.76 crore through the issue at higher end of price band. It will close for subscription on March 18. Company will not receive any proceeds from the offer for sale, which is about Rs 81.76 crore. The company intends to utilize the proceeds from the fresh issue about Rs 357 crore for augmenting capital base to meet future capital requirements arising out of growth in business.SBI Capital Markets Ltd, JM Financial Consultants Pvt Ltd, ICICI Securities Ltd and Almondz Global Securities Ltd are the book running lead managers to the issue. Avendus Capital Pvt Ltd and Karvy Computershare Pvt Ltd are the co-book running lead managers. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
