Companies

PTC India Financial Services divests entire stake in IEX for Rs 132.54 crore

PTI New Delhi | Updated on January 15, 2018 Published on March 30, 2017

PTC India Financial Services today said it has divested its entire stake in India Energy Exchange for Rs 132.54 crore.

In a BSE filing, PTC India Financial Services said, “it has divested its entire stake in India Energy Exchange (IEX) for an amount of Rs 132.54 crore“.

The company said prior to the stake sale, its investment in IEX stood at Rs 1.52 crore.

“The exit is made at a substantial return on our investment and will strengthen the balance sheet, augment the company’s net worth and provide headroom for increased lending in infrastructure sector,” PTC India Financial Services MD & CEO Ashok Haldia said.

IEX provides power trading platform for electricity trade in India.

Shares of the company were trading 2.97 per cent higher at 41.55 on the BSE.

Published on March 30, 2017
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