PTC India Financial Services (PFS), the subsidiary of PTC India, which got listed on the bourses today, plans to disburse loans to the tune of over Rs 1,200 crore during the financial year 2011-12, a top company official has said.
“Considering the growth potential in the power sector and the demand for finance to fund various projects, we plan to disburse over Rs 1,200 crore in FY'12,” the PTC India Chairman and Managing Director, Mr Tantra Narayan Thakur, told PTI here.
Shares of PFS made a weak debut on both the bourses, shedding 9.28 per cent vis-a-vis the issue price of Rs 28 in the early trade on the Bombay Stock Exchange and 4.46 per cent at 26.75 apiece on the NSE.
The total size of PFS IPO was 15.67 crore shares, of which 12.75 crore was freshly issued by the company, and the remaining 2.92 crore was offered by Macquarie India Holdings, an existing investor in the company.
The non-banking financial institution had fixed a price band of Rs 26-28 to raise Rs 438 crore through the issue.
As of December 2010, the company had disbursed loans to the tune of Rs 604 crore and its equity share was around Rs 418 crore, he said.
“We expect our debt loan book to go up considerably in the next fiscal as many companies have approached us for funds. We have carried out due diligence and would evaluate each and every project,” he said.
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