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Corporate
PTC India picks up partner for third party fund

MUMBAI: PTC India Ltd (PTC) has informed BSE that at the board meeting held on November 11, the Ashmore group has been selected as a joint venture partner for the formation of a third party fund and other related entities. The term sheet for the same has been approved by the board.

The fund structure and joint venture agreement is under negotiation with Ashmore for finalisation.

The company had raised Rs 500 crore through QIP (qualified institutional placement) in May 2009 for, inter-alia, launching the third party fund. — Our Bureau

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