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 Corporate - IPOs


Power Trading Corpn to float IPO for raising Rs 59 cr

Our Bureau

New Delhi , Jan 19

POWER Trading Corporation (PTC) has announced that it would be floating an initial public offering amounting to around 39 per cent of its targeted equity capital of Rs 150 crore.

The company, which has recently filed the draft Red Herring prospectus with the Securities and Exchange Board of India, plans to offer 5.85 crore shares with a face value of Rs 10 per share, thus raising Rs 58.5 crore from the market. Post IPO, the paid-up capital of the company will go up from Rs 91.5 crore to Rs 150 crore.

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