Apply for PTC India Fin IPO for long term: Anand Rathi

Indian non-banking financial institution PTC India Financial Services' (PFS) initial public offering of 15.67 crore equity shares opened for subscription. Anand Rathi Securities has recommended the IPO for long term, in its research report dated March 16.

PFS is engaged in the business of making principal investments in, and provide financing solutions for, companies with projects across the energy value chain. Company aims to raise Rs 438.76 crore through the issue at higher end of price band of Rs 26-28 a share. It will close on March 18. 

The report says, "PTC holds 77.60%, GS strategic Investments Ltd affiliate of Goldman Sachs Group and Macquarie India Holdings each hold 11.20% in the company. PFS is one stop solution provider offering a comprehensive range of financial products and services that add value throughout the life cycle of projects across all areas of the energy value chain."

"The power sector knowledge and the expertise of the sector enable the company to identify various investment and growth opportunities in the power sector. The company enjoys the status of NBFC along with the IFC status which gives it and extra edge in terms of the lending and raising ECB

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