Business Daily from THE HINDU group of publications
Thursday, Jan 17, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Jan 17, 2008 ePaper | Mobile/PDA Version |
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Corporate
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Private Placement PTC raises Rs 1,200 cr though QIP Our Bureau New Delhi, Jan. 16 Power trading major PTC India Ltd has raised Rs 1,200 crore through the qualified institutional placement route. The company plans to use the net proceeds of the issue for enhancing its capital adequacy, capitalisation of its new venture PTC Financial Services, investment in fuel intermediation and for investments in entities in the energy sector, besides meeting its working capital requirements, a PTC statement said. The company has allotted 7.41 crore equity shares of Rs 10 each at an issue price of Rs 155 per share aggregating Rs 1,199.94 crore in favour of qualified institutional buyers (QIBs). ABN Amro Securities and Kotak Mahindra Capital acted as the book running lead managers (BRLMs) for the issue. Post-issue PTC India’s paid-up capital has gone up to Rs 227.41 crore, from Rs 150 crore. Earlier, PTC India’s subsidiary — PTC India Financial Services Ltd (PFSL), had placed 20 per cent each with Goldman Sachs and Macquarie India Holdings. PFSL is a non-public deposit taking non-banking finance company and has been set up to undertake investments across the Indian energy value chain. More Stories on : Private Placement | Power
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