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Dec 10, 2010, 12.32 PM IST
PTC India said on Thursday that the company's board of directors has cleared a proposal for its financial services subsidiary, PTC India Financial Services (PFS), to go in for an initial public offering to raise equity capital.
PTC's stake, however, will not be less than 60% in the post-IPO equity capital of PFS, the power trading firm informed the bourses. The board also cleared the appointment of Mr Ved Kumar Jain and Mr Umesh Narayan Panjiar as independent directors with effect from December 7. Taken From The Hindu Business Line
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