The PTC India board is also willing to dilute up to 26 percent stake in PTC Energy, an official with the parent company told Moneycontrol.
The consortium comprising SBI, State bank of Bikaner & Jaipur, L&T Infrastructure Finance and PTC Financial Services has proposed to conduct a Swiss Challenge auction for the under construction 600 MW (2x300 MW) thermal power project located in Raigarh, Chattisgarh, according to the bid document.
PTC's net interest margin for the March quarter was 6.04 percent and for FY15 as a whole, it was 6.3 percent. Gross non-performing assets stood at 1.28 percent of the total assets
The stock, however, was down 2.9 percent on the stock market at 12:22 IST based on weak earnings.
Stay away from PTC Financial Services, says Prashastha Seth, IIFL Private Wealth.