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PTC India Financial sets IPO price band at Rs 26-28/sh
PTC India Financial Services, Indian non-banking financial institution promoted by PTC India, has fixed a price band at Rs 26-28 a share for its initial public offering of 15.67 crore equity shares, as per advertisement in leading newspaper on Monday.
PTC India Financial Services, Indian non-banking financial institution promoted by PTC India , has fixed a price band at Rs 26-28 a share for its initial public offering of 15.67 crore equity shares, as per advertisement in The Financial Express on Monday.
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. It will open for subscription during March 16-18.
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.
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.
