Financial Daily from THE HINDU group of publications
Tuesday, Feb 24, 2004
Financial Daily from THE HINDU group of publications Tuesday, Feb 24, 2004 |
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Corporate
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IPOs Markets - IPOs PTC issue to open on March 1 Our Bureau
Mr T.N. Thakur (left), Chairman & Managing Director, Power Trading Corporation of India Ltd, with Mr Indrajit Gupta, Managing Director, SBI Capital Markets Ltd, at a press conference in Mumbai on Monday. — Shashi Ashiwal
Mumbai , Feb 23 POWER Trading Corporation of India Ltd will open its initial public offering on March 1, 2004. The price band for the offer has been fixed at Rs 14-16 per equity share of value Rs 10 per share. The company, which generated revenues of Rs 998 crore last year, will see its paid-up capital increase from Rs 91.5 crore to Rs 150 crore after the IPO. PTC has opted for 100 per cent book building method. The company has offered 5.85 crore-equity shares of Rs 10 each. SBI Capital Markets Ltd and Enam Financial Consultants are lead managers to the issue. NTPC, NHPC, PFC and PGCIL are among the promoters of PTC, each contributing Rs 12 crore to the present paid-up capital. Other equity shareholders include IDBI, IDFC, LIC, IFCI, GIC, Damodar Valley Corporation and Tata Power Company.
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